Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion

(Reuters) - Communications chipmaker Broadcom Ltd (AVGO.O) on Monday said it offered to buy smartphone chip supplier Qualcomm Inc (QCOM.O) for $70 per share or $103 billion (£78.5 billion) in cash and stock, in what would be the biggest technology acquisition ever.
FILE PHOTO: Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California May 12, 2016. REUTERS/Mike Blake/File Photo
A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raise the stakes for Intel Corp (INTC.O), which has been diversifying into smartphone technology from its stronghold in computers.
Broadcom’s offer is at a premium of 27.6 percent to Qualcomm’s closing price of $54.84 on Thursday, a day before media reports of a potential deal pushed up the company’s shares.
Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion Reviewed by Alexander Von Stern on 04:30:00 Rating: 5