Broadcom may offer more than $100 billion for Qualcomm

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

- Broadcom is considering making a takeover offer for Qualcomm that would value the chipmaker at more than $100 billion, Bloomberg reported on November 3, citing people familiar with the matter.

Broadcom Limited is presently consulting with advisers over a potential bid to acquire Qualcomm, Bloomberg reported on Friday, citing people with knowledge of the ongoing discussions.

Qualcomm (NASDAQ:QCOM) shares are up 5.58% after rumors that Broadcom (NASDAQ:AVGO) is exploring a deal to purchase the chipmaker.

According to Bloomberg, the offer would be roughly $70 a share in cash and stock that could top $100 billion - though a final decision on the whether to make the bid has not been made.

It's also unclear what such a deal would mean for Qualcomm's current bid of almost $40 billion to purchase NXP Semiconductors, a deal that's facing stiff regulatory reviews in Europe and opposition from some investors who contend the bid undervalues NXP. Broadcom stock, meanwhile, is trading up almost 6.5 percent.

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That gave Qualcomm a current total market value of $91 billion. The Wall Street Journal quickly confirmed the news in its own report.

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

Broadcom, based in Irvine, was acquired in 2016 by Avago Technologies, a Singapore based semiconductor outfit that has been growing through acquisitions - including LSI Corp., PLX Technology, Emulex and others. Qualcomm, based in San Diego, could become a key domestic asset for the company, as Broadcom already has a California co-headquarters in San Jose. It is now incorporated in Singapore and co-headquartered there and in San Jose, California.

At issue are the licensing fees that Qualcomm charges for patents that cover the basics of how mobile phone systems work.

A tie-up between the two chipmakers would be the latest in the semiconductor industry that has been rapidly consolidating as companies try to capture a big share of the fast-growing market for connected devices and connected cars.

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