https://techcrunch.com/2017/11/13/qualcomm-rejects-broadcoms-70-per-share-takeover-offer/

Qualcomm’s board of directors has unanimously voted to reject an acquisition offer from rival chipmaker Broadcom.

Broadcom made a formal public offer last week of $70 per share, valuing Qualcomm at $130BN. Although analysts suggested the offer would be too low to win the backing of the company’s board — and so it has proved. In a statement today the board said the offer “dramatically undervalues Qualcomm” and is “not in the best interests of shareholders”.