Broadcom Makes $130B Unsolicited Bid for Qualcomm

Broadcom Makes $130B Unsolicited Bid for Qualcomm

Broadcom Makes $130B Unsolicited Bid for Qualcomm

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.

"It's a smart move that would make Broadcom into a tech juggernaut", said GBH Insights analyst Daniel Ives.

"This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products", Hock Tan, resident and chief executive officer of Broadcom, said in a statement Monday.

On Monday, Qualcomm's shares were up 3 percent at $63.71 in morning trading, suggesting that investors were skeptical a deal would happen. It has pulled off a string of purchases over a decade.

However, the Financial Times reports two unnamed sources who claim that Qualcomm's shareholders could be set to reject the takeover, claiming the valuation is too low and the merger would face significant regulatory challenges.

Broadcom's bid comes as regulators continue to review Qualcomm's proposed acquisition of NXP Semiconductors for $38 billion (£29 billion).

Broadcom is in the process of closing its $5.5bn acquisition of Brocade, while Qualcomm is struggling through regulatory scrutiny to complete its $38bn deal for Dutch semiconductor vendor NXP.

Allison, Kate kiss and tell
Winslet smouldered at the award show, walking the red carpet in a chic Elie Saab black lace and nude fitted jumpsuit. James Corden will host the ceremony at the Beverly Hilton.

Case against Kamal Hassan over Hindu terror remarks, hearing on Nov 22
The Mahasabha leader's statement came just a day after Kamal Haasan's column had been published in Tamil magazine Vikatan. Mohd Aamir Rashid added that if Hindus turn "extremists" then no other community in the country would be safe.

Trump has memory lapse over meeting about Russian officials
Reported testimony from former campaign policy adviser Carter Page only adds to questions about what Sessions knew. The email, dated March 24, 2016, was highlighted Papadopoulos' plea agreement announced Monday.

Broadcom also said that it's offer stands regardless of whether the NXP deal goes through or is terminated.

Qualcomm stock has fallen this year because of a patent fight with Apple, which could quit using Qualcomm chips in its phones, and concerns that it may have to raise its bid for a NXP.

Its entire 10-member board is up for re-election this spring, and Broadcom could seize on the December nomination deadline to put forward its own slate that would then help make negotiations.

Qualcomm said it would review the proposal.

Apple, as a key customer, could play a key role.

Broadcom plans to move its headquarters exclusively to the United States, which would allow it to avoid review by the Committee on Foreign Investment in the United States, which reviews foreign ownership of US assets.

Related news

[an error occurred while processing the directive]