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Qualcomm rejects Broadcom takeover bid

From BBC - November 13, 2017

Computer chipmaker Qualcomm has rejected a $103bn (79bn) takeover bid from rival Broadcom.

Qualcomm said the offer, which is potentially the largest tech sector takeover to date, "dramatically undervalued" the company.

It added that the proposal also came with "significant regulatory uncertainty".

Broadcom, which makes chips for products such as smartphones, was offering $70 per share for Qualcomm.

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