Broadcom bids $103 billion for Qualcomm create hostile

Broadcom Ltd. bid US$103 billion for Qualcomm Inc. which opened a sharper hostile attitude. On Monday, chipmakers based in San Jose and Singapore set aside US$103 billion in which Qualcomm never asked for it and created a stage of battle at the heart of the mobile hardware industry.

Tinuku Broadcom bids $103 billion for Qualcomm create hostile

Qualcomm said it would review the proposal, but the San Diego-based company tends to reject offers too low and appears to be a mockery. Broadcom's CEO, Hock Tan, said he would not avoid a proxy warfare to convince shareholders to replace the council.

"We are strongly advised and know what our options are, and we have not yet removed the option. We have a strong desire to work with Qualcomm to reach a mutually beneficial agreement," Tan said.

The Broadcom-Qualcomm joint venture will be the dominant chip supplier used by more than 1.5 billion smartphones expected to be sold worldwide this year. Intel Corp. has diversified from computer to smartphone technology by supplying modem chips to Apple Inc.