Life&Culture

Broadcom explores deal to buy Qualcomm

Broadcom explores deal to buy 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.

Qualcomm declined to comment.

According to that report, the potential bid appears to be in the early stages, with no final decision made yet, but is likely to be made in coming days. Qualcomm's shares soared 12.71% on the rumor, or $6.97, to $61.81. Broadcom shares rose nearly 5 percent, for a market cap of $111 billion.

- Broadcom is considering making a takeover offer for Qualcomm that would value the chipmaker at more than $100 billion, Bloomberg reported on November 3, citing people familiar with the matter. Broadcom, created in 2016 when Avago Technologies Ltd. acquired Broadcom Corp. for $37 billion, has built itself from a former Hewlett Packard division into one of the largest chipmakers via a string of purchases. At $70 a share, an offer would value Qualcomm at $103 billion.

More: Don't want an iPhone 8 or iPhone X?

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

More: IPhone supplier Broadcom, seeking merger OK, unveils plan with Trump to return headquarters to U.S.

Regulators are still reviewing Qualcomm's $38.1 billion proposed acquisition of NXP Semiconductors for $38.1 billion.

Qualcomm's shares have been trading in the low $50s for much of this year - down about 15 percent because of its fierce legal battle with Apple and hefty fines/lawsuits from anti-monopoly regulators in the U.S., South Korea and Taiwan.

Aside from the financial challenges of such a large deal, Broadcom may also encounter close regulatory scrutiny.

That would give it control of a big part of the supply chain of vital phone components such as wi-fi and cellular modem chips.


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