07 November, 2017
Broadcom also said that it's offer stands regardless of whether the NXP deal goes through or is terminated.
Following rumors over the weekend, chipmaker Broadcom has today confirmed it has approached wireless chipmaker Qualcomm with an acquisition offer that values the company at $130BN (including $25BN of net debt).
Qualcomm declined to comment, while Broadcom did not immediately respond to a request for comment.
Citing sources, Bloomberg claimed that the Qualcomm board is likely to advise shareholders to reject the deal, while also claiming that any potential deal could run into regulatory problems.
Specifically Broadcom is offering to pay $70.00 per Qualcomm share, with $60.00 being in cash and $10.00 per share in Broadcom shares.
Sen. Paul has five broken ribs following assault, spokesperson says
Hodges said Boucher would have faced more serious charges if had he used a weapon or if Paul had been injured seriously. Rand Paul is recovering at his Bowling Green home after being physically assaulted Friday afternoon by a neighbor.
Tropical Storm Philippe forms southwest of the Florida Keys
Though for the time being the storm is moving north, its forward speed is very fast, clocking in at 29 miles per hour . It is now moving north-northeast at roughly 10 miles per hour , with maximum sustained winds of 35 miles per hour .
Carlo Ancelotti on stand-by to replace Antonio Conte
If someone is happy to continue to write this, I answer very well in the past. To create problems between me and the players.
Shares of Broadcom have rallied this year while Qualcomm has fallen, making the target more vulnerable.
"The combined company will be positioned to deliver more advanced semiconductor solutions for our global customers and drive enhanced stockholder value", he added.
Qualcomm is now trying to close its pending $38-billion acquisition of NXP Semiconductors, a leading supplier of chips for vehicles that is also expanding into self-driving technology, and it is believed that Broadcom is open to acquiring NXP.
Qualcomm shares rose up by 3.6 percent in premarket trading this Monday in NY.
Broadcom said if the deal is approved, it expected a combined company to have revenues of about $51 billion.
Broadcom says its proposal is a 28 percent premium over the closing price of Qualcomm common stock on November 2, the last "unaffected" trading day for the companies. Broadcom already provides designs for Wi-Fi and Bluetooth chips, and by bringing in Qualcomm it will be able to encompass LTE and 5G capabilities.