Shares in Qualcomm closed up 12.71 percent to $61.81 on the Nasdaq exchange, valuing the company at $91 billion. Bloomberg, citing anonymous sources, said Broadcom could soon launch a bid of more than $100 billion for Qualcomm. It comes as Qualcomm seeks a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of an EU antitrust inquiry. Broadcom, meanwhile, is seeking to buy US rival Brocade Communications, a deal being reviewed by Washington. It is facing similar challenges in several countries, including the United States.

Source: The Nation Bangkok November 04, 2017 01:52 UTC