Broadcom offers $103 billion for Qualcomm in chip megadeal

Broadcom made an unsolicited, $103 billion offer for rival chipmaker Qualcomm, the tech industry’s largest attempted takeover that is destined to come under intense regulatory scrutiny.

While it did not specify particular companies, Qualcomm and Apple have been in a long-running legal battle over licensing fees owed to Qualcomm.

The Broadcom offer of $70 per share to Qualcomm stockholders would be $60 per share in cash and $10 per share of Broadcom. Qualcomm has 1.47 billion shares outstanding.

Today’s Broadcom is the product of a $37 billion combination in 2016 between Avago, a Singapore-based company that was once part of a former unit of pioneering PC maker Hewlett-Packard, and Broadcom, another company with origins in Southern California which made chips for tablets, smartphones and other telecom and cable applications.

Broadcom said if the deal is approved, it expected a combined company to have revenues of about $51 billion.

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Article source: http://www.dailystar.com.lb//Business/International/2017/Nov-06/425379-broadcom-offers-103-billion-for-qualcomm-in-chip-megadeal.ashx