Qualcomm to reject Broadcom’s unsolicited $103 billion bid?

Now that Broadcom has a $103 billion unsolicited bid on the table for fellow chip maker Qualcomm, the word from four people familiar with Qualcomm’s thinking is that the San Diego based provider of Snapdragon mobile chips is going to turn down the deal. Broadcom says that for every share of Qualcomm it receives, the latter’s stockholders will get $60 in cash and $10 in Broadcom stock.

The $70 face value of the transaction is a 28% premium from Qualcomm’s closing stock price the day before rumors about the merger first started to appear. Qualcomm’s Board of Directors is rumored to have met …