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undergroundnewsroom.com November 21, 2017


Broadcom For Qualcomm? Bloomberg Says Deal Being Mulled

04 November 2017, 12:55 | Clyde Nash

Qualcomm stock jumps on reported Broadcom interest

People crowd into the Qualcomm booth to view a series of new products during the annual Consumer Electronics Show

Both Broadcom and Qualcomm have pending deals that could be affected by a merger.

Broadcom, which is based in Singapore but has announced plans to return to the United States, could offer roughly $70 a share in cash and stock "in the coming days", according to a Bloomberg report Friday. The news outlet also noted that the stock of Qualcomm went up 14 percent following the news, which is the largest stock movement for the company in almost a decade. Broadcom, created in 2016 when Avago Technologies Ltd. acquired then-Broadcom Corp. for $37 billion, has built itself from a former division of Hewlett Packard into one of the industry's largest chipmakers via a string of purchases.

Qualcomm's stock had steadily sunk this year largely due to its ongoing legal battles in key markets around the world. Apple, in suing Qualcomm, thinks the company is nonetheless overcharging for use industry standard patents, which the law requires be licensed out on fair, reasonable, and non-discriminatory (or "FRAND") terms. As a result, there is talk that the 2018 iPhone and iPad models will feature modem chips made by Intel and MediaTek. Apple contends Qualcomm is unfairly charging too much and illegally taking advantage of its market position in chips.

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The deliberations come as Qualcomm, based in San Diego, California, tries to close its $47-billion purchase of NXP Semiconductors NV. It has faced regulatory scrutiny in Europe, and some shareholders such as activist hedge fund Elliott Management Corp. have said the deal undervalues NXP, a large maker of automotive and other chips.

With the introduction of the iPhone 7 and iPhone 7 Plus, Apple brought in Intel for its LTE chips and there have been rumors that the iPhone manufacturer might also bring in MediaTek to bring an end to the business relationship with Qualcomm.

The two companies are already involved in big deals from about a year ago.



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