Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion

Broadcom bids $130 Billion to acquire Qualcomm

The merged companies could become the third-largest chipmaker in the world.

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). In part this might be inspired by Qualcomm's pending release of the Centriq family of processors seeing as how Broadcom cancelled their ARM based server chip development earlier this year. According to reports people involved with Broadcom believe that it will not shy away from initiating a "proxy fight to gain seats on Qualcomm's board of directors in support of its offer".

The proposed deal would see Broadcom paying a 28% premium on shares for its rival but is reliant on Qualcomm completing its $38 billion takeover of NXP, which has yet to close. It is firm that its pool of patents remains a highly valuable asset and its work on defining 5G network roll-out deserves a larger price.

Reports claim the merger between Broadcom and Qualcomm would create a company with a market capitalisation of more than $200 billion and would be one of the biggest takeovers in technology sector history.

If the offer is accepted, it could indeed push the new company into serious competition with semiconductor leaders Intel and Samsung.

President Donald Trump appeared with Broadcom Corp.

"We would not make this offer if we were not confident that our common global customers would embrace the proposed combination, and we do not anticipate any material antitrust or other regulatory issues that would extend the normal timetable for closing a transaction of this nature".

Broadcom facility in Silicon Valley.

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