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Broadcom may offer more than $100 billion for Qualcomm

Broadcom may offer more than $100 billion for Qualcomm”

Qualcomm is not aware of the details of Broadcom's bid, and it is far from certain whether it will entertain this deal, the sources said.

Broadcom Ltd (AVGO.O) is planning an unsolicited bid for smartphone chipmaker Qualcomm Inc (QCOM.O) with an offer possible as soon as this weekend, a source familiar with the matter said on Friday.

Qualcomm declined to comment.

No final decisions have been made and there is no guarantee a deal will go ahead. Shares of Qualcomm jumped 12.7 percent to $61.81, while Broadcom's stock climbed almost 6 percent to $273.63 on Friday afternoon.

- Shares in Broadcom, which makes semiconductors for networking and wireless equipment, were up almost 5 percent in afternoon trading on the Nasdaq. Qualcomm is looking to complete a $40 billion acquisition of NXP Semiconductors, while Broadcom has a $5.5 billion offer for Brocade Communications that it is waiting to complete.

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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. As a result, there is talk that the 2018 iPhone and iPad models will feature modem chips made by Intel and MediaTek.

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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 deliberations come as Qualcomm, based in San Diego, California, tries to close its $47-billion purchase of NXP Semiconductors NV. The chipmaker countersued the Cupertino-based company in April, sought injunctions to halt iPhone sales in the U.S. and China, and filed a lawsuit over copyright infringement. The two companies are already among the top 10 providers of chips in an industry that's consolidating rapidly.

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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