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Qualcomm comes out fighting, rejecting Broadcom and adding Chinese deals

Qualcomm is coming out fighting, as everyone would expect from the bruising San Diego chip provider. It has rejected Broadcom’s $103bn takeover offer (plus $25bn debt), which could now go hostile, or spark a bidding war. And the rejection was accompanied by a string of announcements which highlighted the strengths Qualcomm still has, despite its legal and competitive battles – strengths which could still enable it to remain independent. The company touted a string of deals signed with customers in China – the source of many of its woes in recent years; as well as the commercial shipment of its first server processor, designed to open up new markets in data centers and cloud platforms; and the promise of a…

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