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Broadcom reportedly thinking about buying Qualcomm for $100 billion

Broadcom reportedly thinking about buying Qualcomm for $100 billion

Broadcom is talking with advisers about a potential deal, which would be the biggest ever takeover of a chipmaker. The news, reported by Bloomberg today, would value Qualcomm shares at around $70, and investors immediately responded enthusiastically by sending Qualcomm stock up almost 14 percent in what Bloomberg says is the largest stock movement for the company in almost a decade.

Qualcomm declined to comment. The unnamed sources also stressed that no final decision has been made, however, so there is still a chance for Broadcom to not proceed with a bid.

Shares of Broadcom closed up 5.5% Friday after the report, while Qualcomm's stock surged 12.7%. Broadcom fell slightly to trade up about 1 per cent, for a market valuation of $107-billion.

Update: Bloomberg's sources say Broadcom could offer Qualcomm about $70 per share in cash and stock within the next few days.

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. That would give Qualcomm a market value of $103.2 billion.

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Most recently, Qualcomm filed yet another lawsuit against Apple, with the chipmaker accusing the iPhone maker of breaching a software license contract. Since then, though, smartphone sales growth has slowed and Intel has succeeded in placing its modems in some iPhone models.

Broadcom, meanwhile, announced it would return its corporate headquarters to the USA, in San Jose.

Qualcomm and Apple have been embroiled in a dispute over royalties that has landed the two corporations in court.

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

Qualcomm faces a multinational legal battle with Apple Inc over Qualcomm's licensing terms to Apple. The deal is facing regulatory scrutiny in Europe and opposition from some shareholders including activist hedge fund firm Elliott Management Corp., which has argued the offer undervalues NXP. The chipmaker countersued the Cupertino-based company in April, sought injunctions to halt iPhone sales in the USA and China, and filed a lawsuit over copyright infringement.


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