Chipmaker Broadcom bids $130bn for rival Qualcomm

Chipmaker Broadcom bids $130bn for rival Qualcomm

According to CNBC, Broadcom brought the offer to Qualcomm privately more than a year ago but was rebuffed. Qualcomm's recent $38.5bn takeover of NXP Semiconductors is also a factor that the company believes Broadcom has not accounted for in terms of that amount it is offering.

Semiconductor vendor Broadcom is on the verge of making a $130bn (£99bn) bid for chip maker Qualcomm in what would be the largest technology takeover ever, according to reports.

While the value of the proposed bid has yet to be made public it is expected that the offer will be in the range of around $70 to $80 per share, valuing Qualcomm at over $100billion. Broadcom, seeking to build a powerhouse in smartphone technology, has said it won't give up on this deal easily.

In a statement, the company said: "Qualcomm Board of Directors, in consultation with its financial and legal advisors, will assess the proposal in order to pursue the course of action that is in the best interests of Qualcomm shareholders".

Conte 'banished' David Luiz from Chelsea training prior to Manchester United clash
Maybe in the future I can decide a different way, or continue in this way. " Manchester United is a really good team". When questioned specifically on the case of David Luiz , he said: "It's only a tactical decision".

To acquire Qualcomm, the world's largest maker of mobile-phone chips, Broadcom would pay a 28 percent premium over the stock's closing price on November 2, before Bloomberg first reported talks of a deal. The company has gone so far with its Apple fight that it recently filed a lawsuit seeking to ban sales of the iPhone in China.

The agreement would push the combined firm to become the third-largest chipmaker in the world, behind Intel and Samsung, whilst giving Broadcom a strong foothold in the developing 4G and 5G markets.

Such a massive deal has the potential to invite scrutiny from regulators, but Broadcom CEO Hock Tan said in a letter to Qualcomm that he was confident that the transaction would not raise any red flags for antitrust enforcers.

The bid comes as Broadcom plans to move its headquarters to the United States from Singapore.

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