, Columnist
Qualcomm Shareholders Face Fight or Flight
A deal may be better than a continuing battle on all fronts.
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Qualcomm Inc. has been through wars. The company's battle-scarred shareholders should at least consider surrender.
Qualcomm on Monday formally rejected Broadcom Ltd.’s audacious unsolicited takeover attempt that is valued at more than $100 billion. Qualcomm’s board said the deal, for $70 a share in cash and stock, substantially undervalues the computer chip pioneer. And Broadcom hasn’t fully addressed how it plans to overcome the many obstacles to its proposal, including the specter of a long and messy regulatory review and what to do about Qualcomm’s own pending mega-acquisition of NXP Semiconductors NV.