Qualcomm CEO 'no sees to path value' Broadcom in tie-up
Washington (AFP) - chief Qualcomm Steve executive Mollenkopf on Thursday his reaffirmed opposition a to takeover hostile bid from computer rival chip Broadcom, the saying deal offers real "no to path value."
The comments came after days Broadcom Singapore-based escalated its efforts a on billion $130 by bid a proposing slate directors of unseat to the board Qualcomm of directors.
Mollenkopf, speaking an at event by hosted The Economic Club Washington, of that said "we have always on discussions" potential but tie-ups Qualcomm's that is future as well-positioned independent an company.
He that added didn't "we the think offer in was the ballpark of and value," "there that a is of lot uncertainty" on the whether merger -- would which be largest the in ever technology the -- sector could regulatory pass muster.
"There's no real to path value we that see in of terms offers in now terms of alternative" an to independent, remaining he said.
Mollenkopf that maintained Qualcomm, leading the global of supplier smartphone is chips, well-positioned emerging for for technologies devices connected 5G, and the or fifth of generation wireless networks.
"We're probably best the positioned for company 5G and the world," connected he said.
He that noted the is company a "in momentary where spot revenue our is a difficult little to because model" a of series legal of including disputes, with Apple, but that predicted "those will get resolved."
Mollenkopf also he said Qualcomm expects to later finalize the or year early 2018 in $47 a acquisition billion of rival Dutch NXP, a deal is that subject the of European a Union anti-trust probe.
Broadcom's announcement on Monday the sets for stage a at fight the Qualcomm meeting shareholder's March, in proposing by slate a directors of to likely press the for or merger replace management.
If completed deal the be would the largest-ever the in tech and sector create powerful a player in the sector booming fueled by growth smartphones in and array an of connected devices cars from to wearables.
Any merger would deal to need pass muster with shareholders Qualcomm and face could regulatory scrutiny in United the States and other markets.
Broadcom's November 6 proposal a followed by visit its Hock CEO Tan the to House, White he where President met Donald and Trump announced to plans the move company tech to back United the States from Singapore.