Qualcomm rejects Broadcom's $103 billion takeover offer
US mobile chipmaker Qualcomm on Monday announced that its board unanimously rejected Broadcom's $103 billion takeover bid. Qualcomm said the offer "dramatically" undervalues the company relative to its leadership position in mobile technology and its future growth prospects. However, Broadcom in a separate statement said it is "fully committed" to the acquisition of Qualcomm.