Broadcom reportedly mulling $100B takeover of Qualcomm

04 November, 2017, 00:56 | Author: Yolanda Murray
  • Broadcom May Acquire Qualcomm In Biggest Chip Tie-Up Ever

Update: Bloomberg's sources say Broadcom could offer Qualcomm about $70 per share in cash and stock within the next few days.

According to the Bloomberg report, Broadcom is in talks with financial advisers. No final decisions have been made and there's no guarantee a deal will go ahead.

Qualcomm shares rose as much as 19 percent in NY in their biggest intraday move since October 2008, after Bloomberg News first reported the takeover plans. Broadcom's stock rose 4% to $271.09 a share. Qualcomm is looking to complete a $40 billion acquisition of NXP Semiconductors, while Broadcom has a $5.5 billion offer for Brocade Communications that it is waiting to complete. A subsequent report in the Wall Street Journal said the bid could come as early as this weekend. It is now incorporated in Singapore and co-headquartered there and in San Jose, California.

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A Qualcomm representative declined comment.

Broadcom was created previous year when Tan's Avago Technologies Ltd. bought Irvine-based chipmaker Broadcom Corp. for $37 billion and then adopted the Broadcom name for the combined company.

At issue between Qualcomm and Apple are licensing fees the chipmaker charges for patents that cover the basics of how mobile phone systems work.

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Qualcomm, based in San Diego, California, is also confronting headwinds in closing its $47 billion purchase of NXP Semiconductors NV. Broadcom already provides Apple with components present in the iPhone and the acquisition could mean it will become enlarged enough to become the third-largest chipmaker, trailing behind Samsung and Intel. Qualcomm, a major supplier of chips for wireless handsets, was up 14 percent.

A tie-up between the two chipmakers would be the latest in the semiconductor industry that has been rapidly consolidating as companies try to capture a big share of the fast-growing market for connected devices and connected cars.

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