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Showing posts with the label Broadcom Explores Deal to Buy Chipmaker Qualcomm

Broadcom Explores Deal to Buy Chipmaker Qualcomm

Cash-and-stock bid of about $70 per share expected in days Broadcom offer would be biggest-ever takeover of a chipmaker. Broadcom Ltd.  is considering a bid of more than $100 billion for  Qualcomm Inc. , according to people familiar with the matter, in what would be the biggest-ever takeover of a chipmaker. Broadcom is speaking to advisers about the potential deal, said the people, who asked not to be identified because talks are private. The offer of about $70 a share would include cash and stock and is likely to be made in the coming days, the people said. A final decision on whether to proceed has not been made, they said. Qualcomm shares rose as much as 19 percent in New York in their biggest  intraday move since October 2008, after Bloomberg News first reported the takeover plans. They closed up 13 percent at $61.81, valuing the company at $91 billion. Broadcom rose 5.5 percent, for a market valuation of about $112 billion. Repre...