Broadcom proposes to take over Qualcomm for $130 billion
Broadcom issued an unsolicited proposal this morning to acquire mobile technology giant Qualcomm for $70 per share in a monster cash-and-stock deal that's valued at $130 billion. Broadcom president and CEO Hock Tan says the combined companies would stand "as a global communications leader with an impressive portfolio of technologies and products." Broadcom CFO Thomas Krause touts his company's "proven track record of rapidly deleveraging and successfully integrating companies to create value for our stockholders, employees, and customers" in a rosy vision for the deal. Were it to close, the offer would dwarf Dell's $67 billion merger with EMC that closed in September of last year.
Qualcomm should be a household name to many TR readers. The company designs the Snapdragon mobile platforms that power Android handsets ranging from entry-level to flagship-class, and it also provides the cellular modems that go into some iPhones, among many other technologies. Recently, though, Qualcomm has become embroiled in ...