Economy

Broadcom Reportedly Explore Deal To Acquire Qualcomm

Broadcom Reportedly Explore Deal To Acquire Qualcomm”

Semiconductor giant Broadcom is exploring a possible acquisition of $80 billion Qualcomm, according to a Bloomberg News report citing people familiar with the matter.

Shares of San Diego-based Qualcomm rose more than 15 percent at one point during trading Friday after reports surfaced that Broadcom was considering making an unsolicited offer.

Should there be a deal between Broadcom and Qualcomm, it's not clear what that would mean for Qualcomm's effort to buy NXP Semiconductors NV, a almost $40 billion proposed takeover Qualcomm announced over a year ago.

Broadcom's advisers were huddled in the mid-town Manhattan offices of its law firm Wachtel Lipton late Sunday afternoon deciding on final steps for the roll-out of its offer.

Broadcom was created a year ago when Tan's Avago Technologies bought Irvine, Calif. -based chipmaker Broadcom for $37 billion and then adopted the Broadcom name for the combined company. Tan has said he wants more deals, a strategy that could be limited by opposition from U.S. regulators.

Broadcom, which has a market value of $110 billion, just announced on Thursday that it's moving its headquarters to the USA from Singapore.



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