Tuesday, 21 November, 2017

Broadcom offers to buy Qualcomm for $130B

A sign is posted at a Qualcomm office on November 1 in San Jose California. – AFP A sign is posted at a Qualcomm office on November 1 in San Jose California. – AFP
Heather Davidson | 07 November, 2017, 01:35

One of many Qualcomm buildings is shown in San Diego on November 3, 2015.

Broadcom made an unsolicited, $103 billion offer for rival chipmaker Qualcomm, the technology industry's largest attempted takeover.

The offer came after Broadcom chief executive Hock Tan appeared with President Donald Trump last week and announced the company is likely to relocate its headquarters from Singapore to the US. It has pulled off a string of purchases over a decade. "We have a very strong desire to work with Qualcomm to reach a mutually beneficial deal".

It was not clear who Broadcom was referring to, but Apple is Qualcomm's biggest customer. It would raise the stakes for Intel Corp, which has been diversifying from its stronghold in computers into smartphone technology by supplying modem chips to Apple Inc. Including debt, Broadcom's bid values the transaction at $130 billion.

"It's a smart move that would make Broadcom into a tech juggernaut", said GBH Insights analyst Daniel Ives.

Shares of Qualcomm rose about 1 percent in early trading.

Any deal struck between the two companies would face intense regulatory scrutiny. Chinese ambitions to buy U.S. chipmakers have been thwarted by United States regulators.

Broadcom's bid comes as regulators continue to review Qualcomm's proposed acquisition of NXP Semiconductors for $38 billion (£29 billion). Broadcom already provides designs for Wi-Fi and Bluetooth chips, and by bringing in Qualcomm it will be able to encompass LTE and 5G capabilities.

"Now it's a game of high-stakes poker for both sides", he said.

"Based on what I've seen, it seems unlikely to me that there's a basis for a challenge (to stop the deal)", he said.

It is said that if Broadcom merges with Qualcomm, combination of Broadcom with Qualcomm will make Broadcom third largest Chip makers in the world.

A year ago, the company entered a $5.5 billion agreement to merge with USA network provider Brocade Communications Systems, but that has been delayed while it's scrutinized by the Committee on Foreign Investment in the United States. We think NXP would also fit in reasonably well under the Broadcom umbrella, but we're surprised that Qualcomm's cash hoard isn't a requirement to fund Broadcom's bid.

It has also offered to pick up $25 billion in debt.

Broadcom's proposal was unanimously approved by its Board of Directors.

Qualcomm said its board of directors is now reviewing the offer.

Recommended

  • Geoffrey Kamworor wins NY  marathon

    Geoffrey Kamworor wins NY marathon

    She had blown away the field here a year ago, winning by a margin (3 minutes 34 seconds) not seen in the women's race since 1980. In the men's race, Kenyan Geoffrey Kamworor held off countryman Wilson Kipsang to clock 2:10.53 and win by three seconds.
    United States  senator Rand Paul assaulted at home in Kentucky

    United States senator Rand Paul assaulted at home in Kentucky

    By late Saturday, the page had been overrun by other Facebook users criticizing Boucher for his alleged assault on Paul. A spokeswoman for Paul said the senator was "blindsided" by the assault but did not provide more details.
    Lebanese PM resigns suddenly, fearing for his life

    Lebanese PM resigns suddenly, fearing for his life

    The government has largely succeeded in protecting the country from the effects of the civil war in neighbouring Syria. Lebanon's Prime Minister Saad Hariri announced his suprise resignation on November 4, 2017 in a televised speech.
  • Bengals fall to 3-5 after 23-7 loss to Jaguars

    Bengals fall to 3-5 after 23-7 loss to Jaguars

    According to the statement by Doug Marrone, "This has been addressed internally and further details will not be made public". Ivory wouldn't find pay dirt himself, but he did more than an enough to offset the loss of Fournette for the ball game.
    Bush 41 calls Trump a 'blowhard'; White House strikes back

    Bush 41 calls Trump a 'blowhard'; White House strikes back

    Ex-President George W Bush has criticised Donald Trump , saying "this guy doesn't know what it means to be President". Bush's parents were clearly disturbed by the influence of Vice President Dick Cheney and neoconservative advisers.
    Joel Matip Doubles The Lead VS West Ham

    Joel Matip Doubles The Lead VS West Ham

    Asked after Saturday's defeat if he still had West Ham's backing, Bilic told BT Sport: "It's hard for me to talk about that now". Performing at the highest level for both club and country, Salah is as important to Liverpool as his counterpart Mane.
  • Kate Winslet and Allison Janney kiss on stage at Hollywood Film Awards

    Kate Winslet and Allison Janney kiss on stage at Hollywood Film Awards

    Winslet got the ball rolling when she accepted the Hollywood Actress Award for her performance in " Wonder Wheel ". This year the award show has been hosted by The Late Late show host James Corden .
    Penn State, Michigan State Are On Pace For A Seven-Hour Game

    Penn State, Michigan State Are On Pace For A Seven-Hour Game

    The tie didn't last long as Penn State scored on the following possession and benefited from poor tackling by Michigan State . The rushing total moved Barkley into No. 2 all-time in Penn State history with 3,436, passing Curt Warner (3,398; 1979-82).
    Deposed Catalan leader urges separatist 'unity' for election

    Deposed Catalan leader urges separatist 'unity' for election

    The Catalan parliament was dissolved by the Spanish government last week after they officially declared independence from Spain. He had resigned from Mr Puigdemont's Cabinet in protest before the declaration of independence.
  • HTC will launch dual rear camera smartphone in 2018

    HTC will launch dual rear camera smartphone in 2018

    Though here, as with the U11, it can either trigger Google assistant or Alexa, rather than having to call them out by name. Edge Sense, the squeeze-to-use tech that's becoming all the rage in the smartphone world, is still an enviable feature.
    Saudi Arabia intercepts missile fired at airport

    Saudi Arabia intercepts missile fired at airport

    More than two years on, the war against Houthi rebels has turned into a quagmire for the kingdom and its Arab allies. The missile was shot down and scattered debris over an uninhabited area without causing damage or casualties.
    Facebook vows to curb abuse amid soaring profits

    Facebook vows to curb abuse amid soaring profits

    He said this will inform "a higher standard of transparency than ads on TV or other media". "I'm dead serious", Zuckerberg said. Quarterly advertisement revenue has more than doubled since 2015, and is rising at more than 40 percent year over year.

IOS 11.2 Beta 2 Now Available for All Devices - Download Now IOS 11.2 Beta 2 Now Available for All Devices - Download Now The glitch arrived with iOS11.1, which was released last week, bringing with it hundreds of new emojis. When you type the letter "I", before hitting Space, tap the "I" that appears in the box.

Interview: Discussing Ezekiel Elliott's Latest Status With "Mighty" Interview: Discussing Ezekiel Elliott's Latest Status With That means Elliott's six-game suspension for alleged incidents of domestic violence has been put on hold again. He was never charged with a crime by the Columbus, Ohio, authorities who investigated the allegations.

Disney May Be in Talks to Buy 21st Century Fox Disney May Be in Talks to Buy 21st Century Fox Essentially, piggybacking off of Disney's reach and scale could give Fox advantages that it would not have if it continues solo. Fox said in August that it expects to see high single-digit domestic affiliate fee growth every quarter in fiscal 2018.

Screen Issues on iPhone X Confirmed By Apple Screen Issues on iPhone X Confirmed By Apple Of course, SquareTrade offers up insurance plans which are often cheaper than plans you may be able to get through your carrier. The side drop was considered the most damaging internally, while the exterior of the phone remained mostly intact.

In Tokyo, Trump issues warning to Kim In Tokyo, Trump issues warning to Kim Trump spoke to the press at dinner, explaining that he spent a lot of time talking about North Korea and trade. He urged Trump to pursue a peaceful solution by supporting those within North Korea to oppose Kim Jong Un.

Markets Brace for Potential Fallout From Arrest of Billionaire Investor Saudi Prince Markets Brace for Potential Fallout From Arrest of Billionaire Investor Saudi Prince Saudi officials described Saturday's arrests as the result of an investigation by a newly created anti-corruption committee. The new body was given broad powers to investigate cases, issue arrest warrants and travel restrictions, and seize assets.

Iran adds missile to annual anti-US pageant Iran adds missile to annual anti-US pageant The former USA embassy in Tehran is now a cultural centre but stands as a symbol of a United States defeat for many Iranians. The diplomatic building was stormed by militant students following the 1979 revolution which toppled the US-backed Shah.

Washington Wizards Three Takeaways: Wizards Lose in a Shootout with the Cavaliers Washington Wizards Three Takeaways: Wizards Lose in a Shootout with the Cavaliers All that talk about being the best team ended after the Wizards gave up 74 points in the first half. So that's kind of how we go back and forth.

Trump campaign adviser Page met Russian officials in 2016 Moscow trip Trump campaign adviser Page met Russian officials in 2016 Moscow trip It is rare to see cases for perjury to Congress generally because the exchanges are often imprecise or rather fluid in nature. The person familiar with Sessions' activity during the campaign said his testimony has been truthful and consistent.

Bank of England hikes rates for first time in 10 years Bank of England hikes rates for first time in 10 years Some predict rates could rise again as soon as February, but others expect there will be a pause until at least later in 2018. A reduction in interest rates makes saving less attractive and borrowing more attractive, which stimulates spending.

Trump campaign aide met Russian officials in 2016: NY Times Trump campaign aide met Russian officials in 2016: NY Times Sessions's participation in the gathering was detailed in court documents released Monday by special counsel Robert Mueller III. The revelations that Sessions may have made false statements under oath riled many top Democrats, especially Franken.

Kohli has faith in India's batsmen despite Rajkot reverse Kohli has faith in India's batsmen despite Rajkot reverse Munro, whose unbeaten 58-ball 109 fetched him the Man of the Match award, said the century was a reward for taking his chances. The Auckland batsman never let up, though, and powered on to his hundred as New Zealand amassed 196-2 in their 20 overs.

Sprint merger talks are over Sprint merger talks are over Shares of Sprint and T-Mobile tumbled Monday after rumors emerged that merger talks between the two companies were fizzling. But T-Mobile lobbed in a last minute counter offer and there was hope again that a deal could be salvaged.

Manchester United's players deserve more credit, feels Jose Mourinho Manchester United's players deserve more credit, feels Jose Mourinho But he's an agent that I know well and normally he's very direct, very objective". I think Scott is going to be a great player and already is a great player.

Justin Bieber, Selena Gomez He Pursued Her ... And it Took Some Convincing Justin Bieber, Selena Gomez He Pursued Her ... And it Took Some Convincing However, various sources have confirmed that the male singer reached out to Gomez after he learned of her kidney transplant . Bieber and Gomez began dating in 2011, and had an on and off relationship until 2014, when they finally called it quits.