Broadcom Looks To Acquire Qualcomm In Takeover Bid

Broadcom May Acquire Qualcomm In Biggest Chip Tie-Up Ever

A deal of this kind aligns with the current industry trend of consolidation, but also keep in mind that Broadcom is the largest maker of Wi-Fi chips in the world, while Qualcomm is the largest maker of modems. A final decision on whether to proceed has not been made, they said. 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's stock rose 4% to $271.09 a share.

The stock of San Diego-based Qualcomm shot up 12% to $61.65 a share in midday trading Friday after reports surfaced that Broadcom was considering making an unsolicited offer.

Broadcom, based in Irvine, was acquired in 2016 by Avago Technologies, a Singapore based semiconductor outfit that has been growing through acquisitions - including LSI Corp., PLX Technology, Emulex and others.

That gave Qualcomm a current total market value of $91 billion. Since then, though, smartphone sales growth has slowed and Intel has succeeded in placing its modems in some iPhone models. This week, Broadcom said it would move its headquarters from Singapore back to the USA, where it lists an HQ in San Jose, California.

A change of management at Qualcomm might help resolve the dispute with Apple more quickly, and thereby make Qualcomm's licensing and chip businesses more valuable, according to Sanford C. Bernstein & Co. analyst Stacy Rasgon.

The proposal raises questions about whether Qualcomm will close its pending $38-billion acquisition of NXP Semiconductors NV. Apple, in suing Qualcomm, thinks the company is nonetheless overcharging for use industry standard patents, which the law requires be licensed out on fair, reasonable, and non-discriminatory (or "FRAND") terms. 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.

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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