President Donald Trump appeared with Broadcom Corp.
On Nov. 6, Broadcom announced an unsolicited bid to acquire Qualcomm for $70 per share ($60 in cash and $10 in stock) in a deal valued at $130 billion, assuming that Qualcomm's ongoing bid to acquire NXP Semiconductors for $38 billion goes through.
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. There has been regulatory scrutiny for that deal in Europe, as well as reported objections from NXP stakeholders.
Including debt, the bid values the transaction at $130bn in total.
Broadcom has offered $70 per share (£53.40) for the firm, which it said represented a 28% premium over Qualcomm's closing share price on November 2, and offered to pick up $25 billion in debt (£19 billion).
"With greater scale and broader product diversification, the combined company will be positioned to deliver more advanced semiconductor solutions for our global customers and drive enhanced stockholder value".
However, according to the FT, Qualcomm is set to reject the deal, raising the prospect of a fight for the future of the company.
Broadcom, Qualcomm and NXP together would have control over modems, Wi-Fi, GPS and near-field communications chips, a strong position that could concern customers such as Apple and Samsung Electronics Co Ltd because of the bargaining power such a combined company could have to raise prices.
Qualcomm is more vulnerable to a takeover now because its shares have been held down by a patent dispute with Apple, as well as concerns it may have to raise its own $38 billion bid for NXP Semiconductors NV that it made a year ago.
Qualcomm said in a statement Monday morning that it had received the offer and its board of directors would be reviewing it.
Broadcom also is waiting on regulatory approval to purchase San Jose's Brocade Communication Systems for $5.9 billion.
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