Under Broadcom's proposal, Qualcomm shareholders would receive $70 per share - $60 in cash and $10 in shares of its rival. We will maintain our fair value estimates of $68 for narrow-moat Qualcomm and $203 for narrow-moat Broadcom, but we would probably raise our fair value estimate for Broadcom-perhaps as much as 25%-if a definitive deal were reached.
"Chipmaker Broadcom officially unveiled a $130bn offer, including net debt, for Qualcomm on Monday, in what could be the largest tech deal in history". However, according to the FT, Qualcomm is set to reject the deal, raising the prospect of a fight for the future of the company.
Reuters reported that Broadcom had not contacted Qualcomm about the offer prior to Tan's letter. While the deal might be massively accretive to Broadcom, we also expect this management team to be disciplined, so while we might see modest raises from here, we don't foresee a bidding war.
We would not make this offer if we were not confident that our common global customers would embrace the proposed combination.
The move would combine two of the largest makers of wireless communications chips for mobile phones and could pose a significant competitive threat to Intel, which has been looking to diversify into smartphone technology.
"We are positive on the potential of this acquisition as it would bring in complementary cellular products and cost synergies, leading to immediate earnings per share accretion. It would value Qualcomm's equity at roughly $103bn".
"There is a long road here, while Broadcom is one of the most disciplined acquirers, we think in an unsolicited offer - rarely is the 1st offer the last one, suggesting there is an upside bias to Broadcom's math. Net/Net: We think this deal fits Broadcom's strategy and could be a material catalyst to enable earnings per share and free cash flow upside".
And a premium of 33 per cent on Qualcomm's "unaffected 30-day volume-weighted average price".
The UK new auto market saw another month of decline - and is down year-on-year - on the back of poor diesel sales. Year to date, that means the new vehicle market has declined -4.6%, which is in line with the SMMT's forecasts.
When crunch time came it was Flanagan, not Keitany, who dominated, impressively leading the final three miles. Flanagan placed sixth in the women's marathon in at the Rio Olympics a year ago , the top American finish.
The government said it would not act against such persons until the Supreme Court finally disposes off the matter. The higher the degree of power, the higher the degree of trust, he argued before the Constitution bench.
Social activists have petitioned the court to restrain the Centre from linking Aadhaar to bank accounts and mobile phone numbers. A nine-judge bench had recently ruled that Right to Privacy was a Fundamental Right under the purview of Indian Constitution .
Emmerson Mnangagwa's removal for "disloyalty" clears the decks for Grace Mugabe to succeed her husband as president . The 75-year-old Mnangagwa was former intelligence chief, security and justice ministers before.
With Vernon and Wynn out, rookie Avery Moss will continue to see increased snaps at defensive end. "Mistakes cost us the game". The 51 points allowed were the most in a home game since 1964, and the most ever allowed by the Giants at MetLife Stadium.
Keeping all harmed in Sutherland Springs in our prayers and grateful for our fearless first responders on the scene . Video on KSAT television showed first responders taking a stretcher from the church to a waiting AirLife helicopter.
It was fourth-and-three from the MSU 31, and PSU chose to go for it instead of kicking a long field goal in the sloppy conditions. The Spartans held Penn State star Saquon Barkley in check with 131 total yards, including zero rushing yards in the first half.
In an interview with BuzzFeed , actor Anthony Rapp said he attended a party at Spacey's NY apartment in 1986, when he was 14. His career lies in ruins, and he is also subject to police investigations in London , Los Angeles , and NY .
USA missions in Turkey partially resume visa issuing
Turkish Islamic preacher Fethullah Gulen is pictured at his residence in Saylorsburg, Pennsylvania, on September 24, 2013. Turkey blames Gulen, a US-based Muslim cleric, for orchestrating last year's failed coup attempt.
Trump says he'll meet Putin to talk North Korea
North Korea's latest missile test in September flew over northern Japan before splashing into the Pacific Ocean. Those sanctioned were banned from having any trade deals with South Korea.
Sen. Rand Paul assaulted at Kentucky home Friday
The Kentucky State Police reacted to Rand's habitation at 3:21 p.m., as indicated by an official statement from the organization. According to the Kentucky Board of Medical Licensure, Boucher is a retired physician, as of February, 2015.
Saudis intercept ballistic missile over Riyadh
A ballistic missile launched from Yemen was intercepted northeast of Saudi Arabia's capital, Riyadh, according to local media. The Saudi air force shot down the alleged weapon on Saturday, Al Arabiya reports, adding that no damage has been caused.