Broadcom Ltd. is bracing for a battle as it explores an unsolicited $100 billion takeover deal for Qualcomm Inc. The bid, which would constitute the biggest-ever takeover of a chipmaker, undervalues Qualcomm, according to people familiar with the matter, with the company likely fending off the approach. Shares in Qualcomm added 12.8 percent on Friday, with Broadcom closing 5.4 percent higher.
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