Qualcomm Rejects Broadcom's Latest Proposal

02/08/18 04:41 PM EST
By Austen Hufford 

Qualcomm Inc. has rejected Broadcom Ltd.'s "best and final offer" for the semiconductor maker but offered to meet with the company to negotiate better terms.

Shares of Qualcomm rose 1.1% in after-hours trading Thursday as Broadcom shares rose 2.4%.

Earlier this week, Broadcom made a sweetened offer for Qualcomm that valued the semiconductor maker at $121 billion.

In a Thursday letter to Broadcom, Qualcomm said the new offer undervalues the company, given the significant risk of a failed transaction.

Write to Austen Hufford at austen.hufford@wsj.com


(END) Dow Jones Newswires

February 08, 2018 16:41 ET (21:41 GMT)

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