The largest ever deal in the technology industry was announced today as Broadcom, the electronics manufacturer and microchip designer, offered to buy its rival Qualcomm for $130 billion. If Qualcomm accepts Broadcom’s hostile approach it would create the third largest chipmaking company behind Intel and Samsung and consolidate Qualcomm’s position as the world’s leading smartphone chip designer. Broadcom’s offer values Qualcomm at $130 billion and includes about $25 billion worth of debt. Broadcom has offered $70 per Qualcomm share in cash and Broadcom shares, a premium of about 28 per cent on the share price before reports of a potential deal on Thursday last week. Qualcomm said that it would assess Broadcom’s proposal but is expected to reject the offer as undervaluing it, opening the…

Source: The Times November 06, 2017 17:03 UTC