Broadcom offers to buy Qualcomm in $130 billion deal

Broadcom bids $130 Billion to acquire Qualcomm

Broadcom bids $130 Billion to acquire Qualcomm

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. Rumors of the acquisition started popping up yesterday, and the offer will likely kick off a pitched battle between the two companies and regulators around the world.

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.

First reported by Bloomberg, Broadcom is said to be readying an assault on publicly listed Qualcomm and planning to offer shareholders $70 a share.

According to CNBC, Broadcom brought the offer to Qualcomm privately more than a year ago but was rebuffed. Qualcomm apparently isn't happy with the offer, with Bloomberg saying that Qualcomm thinks the deal "undervalues the company". It seems that Broadcom have set its sights on Qualcomm, offering $130 billion to buy out the company and its assets.

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A Qualcomm spokesman contacted by TechCrunch declined to comment on Broadcomm's proposal at this time. 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. "We would not make this offer if we were not confident that our common global customers would embrace the proposed combination", said Tan in a press statement.

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.

Tan visited President Trump at the White House last week to announce that Broadcom would be moving its headquarters from Singapore to Delaware.

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