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Qualcomm Rejects Broadcom’s Unsolicited $103-Billion Takeover Bid

Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd’s $103-billion takeover bid, saying the offer undervalued the company and would face regulatory hurdles. Shares of Qualcomm were up 1.8 percent at $65.74 in early afternoon trading, while those of Broadcom were down 0.4 percent at $263.95. Broadcom said it would seek to engage with Qualcomm’s board and management, adding that it had received positive feedback from key customers and stockholders. “We continue to believe our proposal represents the most attractive, value-enhancing alternative available to Qualcomm stockholders and we are encouraged by their reaction,”…

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Foxconn Seals $3.5 Billion Takeover of Sharp as Execs Seek to Shake Off Doubts

Foxconn and Sharp Corp on Saturday formally signed a long-awaited deal that would see the Taiwan firm take control of the Japanese display maker, as executives sought to dispel lingering doubts over whether Sharp can turn around its ebbing fortunes. At a packed news conference following the signing of the $3.5 billion deal, Foxconn CEO Terry Gou ducked questions about how – and when – Sharp would become profitable again, but expressed confidence in the Japanese company’s ability to bounce back with its highly regarded technology. Gou pointed to Sharp’s…

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