Broadcom Wants to Buy Out Qualcomm for $130 Billion

Broadcom Wants to Buy Out Qualcomm for $130 Billion

Broadcom Wants to Buy Out Qualcomm for $130 Billion

The Broadcom offer of $70 per share to Qualcomm stockholders would be $60 per share in cash and $10 per share of Broadcom.

Qualcomm's chips and patents affect nearly every smartphone model in the world, and Broadcom is offering $70 a share, which is a 28pc premium on Qualcomm's closing stock price last Thursday (2 November) according to a report in The New York Times. U.S. President Donald Trump commented on the move on Thursday at a White House event where Chief Executive Hock Tan cited Republican tax efforts.

Broadcom today (6 November) revealed a $105bn takeover bid for Qualcomm, a move that would see the creation of a giant in the chip-making world.

Chipmaker Broadcom has put in a $103 billion offer to buy rival Qualcomm Inc, in what could mark the biggest technology acquisition in history. According to reports people involved with Broadcom believe that it will not shy away from initiating a "proxy fight to gain seats on Qualcomm's board of directors in support of its offer".

Qualcomm has a (long) pending acquisition, of chipmaker NXP Semiconductors NV, in the works - and Broadcom notes that its offer is not dependent on whether or not Qualcomm manages to close with NXP on the now disclosed terms (it's offering ~$39BN for the Netherlands-based chipmaker which has a focus on car-related applications and also security-based identification).

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Qualcomm's share price rose as much as 14 per cent when the news broke.

Antitrust concerns over a Broadcom-Qualcomm deal also may be muted because the companies have few areas of overlap beyond Wi-Fi solutions for wireless routers, Bluetooth drivers and some RF semiconductors, said Rob Lineback, a research analyst at IC Insights.

Qualcomm is not aware of the details of Broadcom's bid, and it is far from certain whether it will entertain this deal, the sources said.

Broadcom said if the deal is approved, it expected a combined company to have revenues of about $51 billion.

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