Broadcom reportedly mulling $100B takeover of Qualcomm

Adjust Comment Print

Bloomberg News first reported the deal, saying an unsolicited bid could be for around $70 a share.

As for Broadcom, its CEO Hock Tan has a huge appetite when it comes to acquisitions and states that he is interested in more deals, which could be halted thanks to the intervention of US regulators since Qualcomm is a USA -based technology company.

No final decisions have been made and there is 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. Broadcom's stock rose 4% to $271.09 a share.

Five years ago, when smartphone demand was soaring, Qualcomm briefly overtook Intel in market value. A subsequent report in the Wall Street Journal said the bid could come as early as this weekend.

A Qualcomm representative declined comment. Broadcom, created in 2016 when Avago Technologies Ltd. acquired then-Broadcom Corp. for $37 billion, has built itself from a former division of Hewlett Packard into one of the industry's largest chipmakers via a string of purchases.

Читайте также: College Football Playoff title game sites announced through 2024

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

Stock of San Diego-based Qualcomm jumped 12.7 percent to close at $61.81.

The reports came one day after Tan held a news conference with President Trump to announce that Broadcom, now based in Singapore with a primary US office in San Jose, plans to move its corporate domicile to the United States.

This comes at a time when Qualcomm itself is trying to complete a $47 billion purchase of NXP Semiconductors.

If it happens, it would be the largest takeover of a chip firm. It has faced regulatory scrutiny in Europe, and some shareholders such as activist hedge fund Elliott Management Corp. have said the deal undervalues NXP, a large maker of automotive and other chips.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2017 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог