Qualcomm director says Broadcom offer "not even close"

|About: Broadcom Limited (AVGO)|By:, SA News Editor

Qualcomm (NASDAQ:QCOM) lead director Tom Horton tells CNBC that Broadcom’s (NASDAQ:AVGO) latest bid was “just not even close to what the value of the company is.”

Horton: “We’re on the verge of reaping the benefits of all the investments we’ve made in 5G, which is rolling out in a very profound way over the next couple of years. And we’ve just closed on the NXP deal, which has $1.50 of accretion inherent in it so that part of the puzzle has now been put in place.” 

Qualcomm shares are down 1.9%

Broadcom shares are up 2.3%.     

NXP Semiconductors (NASDAQ:NXPI) is up 6.1%.           

Previously: Qualcomm increases NXP offer to $44B, activist investor approves (Feb. 20)

Previously: Broadcom: Qualcomm's boosted NXP offer a unilateral value transfer (Feb. 20)