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Chipmaker, Broadcom seeks to acquire Qualcomm

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US govt halts Qualcomm takeover by Broadcom

Communications chipmaker Broadcom Ltd is planning to unveil a bid for smartphone chip supplier Qualcomm Inc by Monday, three sources familiar with the matter said on Friday, an attempt to create a roughly $200-billion company through the biggest technology acquisition ever.

A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raises the stakes for Intel Corp (INTC.O), which has been diversifying into smartphone technology from its stronghold in computers.

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The value of Broadcom’s bid has not been decided, though an offer in the range of around $70 to $80 per share is being contemplated, one of the sources said. At $70 a share, an offer would value Qualcomm at $103 billion.

Qualcomm is not aware of the details of Broadcom’s bid, and it is far from certain whether it will entertain this deal, the sources said.

 

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