Deals
Qualcomm Braces for a $100 Billion Fight With Broadcom
- Chipmaker will argue the proposal undervalues the business
- Shareholders will likely be told to expect regulatory scrutiny
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Qualcomm Inc. is preparing to fend off an unsolicited $100 billion takeover bid from Broadcom Ltd., arguing it undervalues the company, people familiar with the plans said.
Broadcom is preparing a $70-a-share offer for Qualcomm, which could come as soon as Monday, said the people, who asked not to be identified because the plans are private. Qualcomm will argue that the proposal, the largest-ever technology acquisition, is an opportunistic move to buy the chipmaker on the cheap, the people said.