Economy

Broadcom reportedly eyeing Qualcomm purchase

Broadcom reportedly eyeing Qualcomm purchaseā€

NY financial publications are reporting that Irvine-based Broadcom is exploring a deal to acquire Qualcomm in the biggest every takeover of a chip making company.

Qualcomm is up more than 12% on Friday while Broadcom is bouncing around but up about 1.5%.

Broadcom is speaking to advisers about the potential deal, Bloomberg said, citing people familiar with the matter. No concrete decisions on the matter have yet been reached and it's now unclear what conditions would the semiconductor company be prepared to offer to Qualcomm and what level of a bid would the San Diego, California-based tech giant be prepared to consider.

Broadcom, created in 2016 when Avago Technologies Ltd. acquired then-Broadcom Corp. for $37-billion, said this week it will return its headquarters to the USA from Singapore.

Qualcomm is in the middle of its own acquisition efforts, as it works to close its $47 billion purchase of NXP Semiconductors.



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