Broadcom offers to buy Qualcomm in $130bn deal

Qualcomm declined to comment while Broadcom did not immediately respond to a request for comment

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.

Chipmaker Broadcom has put in a $103 billion offer to buy rival Qualcomm Inc, in what could mark the biggest technology acquisition in history.

Shares in Qualcomm rose on Friday after rumours of a potential offer.

The company is inclined to reject the bid as too low and fraught with risk that regulators would reject it or take too long to approve it, people familiar with the matter told Reuters.

Including debt, the bid values the transaction at $130bn in total.

"With greater scale and broader product diversification, the combined company will be positioned to deliver more advanced semiconductor solutions for our global customers and drive enhanced stockholder value".

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"We would not make this offer if we were not confident that our common global customers would embrace the proposed combination", Mr Tan said. Broadcom already provides designs for Wi-Fi and Bluetooth chips, and by bringing in Qualcomm it will be able to encompass LTE and 5G capabilities.

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

Qualcomm has a (long) pending acquisition, of chipmaker NXP Semiconductors NV, in the works - and Broadcom notes that its offer is not dependent on whether or not Qualcomm manages to close with NXP on the now disclosed terms (it's offering ~$39BN for the Netherlands-based chipmaker which has a focus on car-related applications and also security-based identification).

Any deal between Broadcom and Qualcomm would have to be approved by Antitrust officials, who are still considering Qualcomm's purchase of NXP.

Broadcom's own $5.5 billion (£4.2 billion) agreement to merge with US network provider Brocade Communications Systems previous year has been delayed while it is scrutinised by the US Committee on Foreign Investment (CFI), which investigates proposed acquisitions of US companies by foreign buyers on national security and intellectual property grounds.

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