PC chipmaker Qualcomm has rejected a $103bn (£79bn) takeover offer from match Broadcom.
Qualcomm said the offer, which is possibly the biggest tech division takeover to date, "drastically underestimated" the organization.
It included that the proposition additionally accompanied "huge administrative vulnerability".
Broadcom, which makes chips for items, for example, cell phones, was putting forth $70 per share for Qualcomm.
The offer comes during a period of union clearing the business. Broadcom is sitting tight for administrative endorsement to purchase Brocade, while Qualcomm is in converses with purchase NXP Semiconductors.
In the interim, Qualcomm is right now occupied with a fight in court over eminence installments with its greatest client, Apple.
A tie-up amongst Broadcom and Qualcomm would make the world's third biggest chipmaker behind Intel and Samsung.
At the season of takeover proposition, Hock Tan, president and CEO of Broadcom, had stated: "This reciprocal exchange will position the consolidated organization as a worldwide correspondences pioneer with an amazing arrangement of advancements and items."