Qualcomm has officially rejected Broadcom's $105 billion acquisition offer — an offer so huge it was set to become the world's largest tech deal.
The San Diego-based chipmaker announced on Monday that it was passing on the acquisition, which Broadcom actually valued at $130 billion taking Qualcomm's $25 billion debt into account.
Why? Well, for the simple reason Qualcomm believes it's worth more money.
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The company creates key wireless technology like modems and processors for popular smartphones like the iPhone. And though Qualcomm is in the midst of a legal dispute with Apple, the company still believes its overall value is higher than what Broadcom was offering. Read more... More about Tech , Business , Conversations , Acquisitions , and Mergers