Chipmaker Broadcom plans blockbuster bid for Qualcomm

Broadcom May Acquire Qualcomm In Biggest Chip Tie-Up Ever

This time the San Diego chipmaker is suing Apple for allegedly sharing proprietary Qualcomm technologies with its market rival, Intel.

According to Bloomberg, the offer would be roughly $70 a share in cash and stock that could top $100 billion - though a final decision on the whether to make the bid has not been made.

Broadcom, which has a market value of $110 billion, just announced on Thursday that it's moving its headquarters to the U.S. from Singapore.

The news, reported by Bloomberg today, would value Qualcomm shares at around $70, and investors immediately responded enthusiastically by sending Qualcomm stock up almost 14 percent in what Bloomberg says is the largest stock movement for the company in almost a decade.

The saga kicked off almost a year ago, in January 2017, when Apple first filed a lawsuit against Qualcomm for allegedly abusing its market position to extract more money from hardware manufacturers.




Reports in The Wall Street Journal and elsewhere say Apple is contemplating kicking Qualcomm out of its devices entirely, possibly replacing it with Intel chips.

The bid comes as Broadcom plans to move its headquarters to the United States from Singapore, President Donald Trump said on Thursday at a White House event where Chief Executive Hock Tan cited Republican tax efforts.

Broadcom did not immediately respond to requests for comment. Broadcom now lists Singapore and San Jose as co-headquarters.

Qualcomm faces a multinational legal battle with Apple Inc over Qualcomm's licensing terms to Apple. Well, Qualcomm happens to be in the middle of an ongoing existential crisis perpetuated by a legal showdown with Apple, which has always been a Qualcomm buyer for wireless modems that enable the iPhone to communicate with telecom networks. Qualcomm paid $891 million to settle the case in 2009.

Broadcom and Qualcomm have few areas of overlap and but both make Wi-Fi solutions for wireless routers, Bluetooth drivers and some RF semiconductors, said Rob Lineback, a research analyst at IC Insights.

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