Qualcomm board unsurprisingly rejects Broadcom bid – what now?

Having mulled it over for a week the Qualcomm board has decided Broadcom’s unsolicited $130 billion bid for the company is too low.
We anticipated this in our initial analysis of the deal, with Qualcomm’s shares having traded at the offer price as recently as the start of this year. Since then they’ve taken a bit of a kicking thanks mainly to the Apple litigation, but the Qualcomm board presumably expects that to be resolved in a satisfactory manner, which could well result in