Qualcomm's board of directors has now unanimously opted to reject an acquisition offer from Broadcom.

A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. The per share consideration would consist of $60.00 in cash and $10.00 per share in Broadcom shares. So while turning down a huge offer like that seems insane, the company really is probably worth more than what Broadcom was offering. "We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G", added Steve Mollenkopf, CEO of the firm.

Both companies count Apple among their top customers. But Qualcomm is understood to view it as an opportunistic swoop, coming as the company is under threat from regulatory lawsuits and locked in a spat with Apple.

San Diego-based Qualcomm is going to reject a $103 billion purchase offer made by rival Broadcom, according to a Reuters report. Another strategy that Broadcom could try would be to raise the bid price. The $105 billion bid does sound a lot but bear in mind that Nvidia's market cap is about $130 billion dollars, a product of great stock performance, but honestly, Qualcomm's portfolio seems broader and shows more potential on the long run.

Broadcom's audacious offer, which it tabled last Monday, would be the biggest technology deal of all time if completed.

The easiest option, however, would be to talk to Qualcomm's board and agree on a higher price.

Broadcom has also been deliberating the possibility of raising its bid for Qualcomm, including through more debt financing, some of the sources said, although it was not clear when Broadcom would choose to make such a move.

Any deal would face scrutiny from the antitrust regulators as the combined company would own the high-end WiFi business globally, analysts said. Qualcomm itself is in process of taking over NXP Semiconductor.

Broadcom doesnt care about the outcome of that deal – it has stated that it wants to acquire Qualcomm with or without NXP.