A new report from Bloomberg suggests that Broadcom may be considering a buyout offer for Qualcomm that is worth over $100 billion. Broadcom is currently in the process of speaking with advisers about the potential deal and sources close to the matter say the offer would be close to $70 a share.
Those familiar with the matter say the talks are being kept private for now, but the offer could be made in the coming days. Qualcomm’s stock is up over 19% on the rumors and is the biggest movement for the stock since all the way back in 2008. Broadcom stock also saw a boost on the rumors, with its stock jumping up 4.7%. Both Broadcom and Qualcomm representatives declined to comment on the speculation.
This could be an interesting move for the mobile industry, considering Broadcom is a major supplier of Apple and is making efforts to return its headquarters to the US. Qualcomm and Apple have been at odds in several different lawsuits filed over patent disputes and monopolistic practices in the chipset market.