Broadcom May Acquire Qualcomm In Biggest Chip Tie-Up Ever

Broadcom Plans Unsolicited Bid for Qualcomm

According to Bloomberg news, if the deal goes through then Broadcom might acquire Qualcomm for the price of $100 billion, which would value the latter's shares at $70.

Qualcomm declined to comment.

Shares of Broadcom closed up 5.5% Friday after the report, while Qualcomm's stock surged 12.7%. The news outlet also noted that the stock of Qualcomm went up 14 percent following the news, which is the largest stock movement for the company in almost a decade.

Broadcom Chief Executive Officer Hock Tan is a voracious acquirer, and he's played a key role in a wave of consolidation engulfing the $300 billion semiconductor industry over the last three years. Broadcom, created in 2016 when Avago Technologies Ltd. acquired Broadcom Corp. for $37 billion, has built itself from a former Hewlett Packard division into one of the largest chipmakers via a string of purchases.

At least 3 killed in 14-vehicle fiery crash on Hwy. 400
Highway 400 will be closed northbound at County Road 88 and southbound at County Road 89 for an undetermined period of time. Schmidt said the highway may also need resurfacing depending on how much damage has been done to the asphalt.

More: Don't want an iPhone 8 or iPhone X? It is now incorporated in Singapore and co-headquartered there and in San Jose, California. However, Apple may ditch Qualcomm altogether and develop future iPhone and iPad units that rely only on Intel modems, which would drastically affect Qualcomm's bottom line. Qualcomm has a market cap of around $92 billion as of writing while Broadcom is worth almost $113 billion. A subsequent report in the Wall Street Journal said the bid could come as early as this weekend.

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

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

The two companies are already involved in big deals from about a year ago. Broadcom is also a major supplier to numerous same companies for Wi-Fi chips.

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