Broadcom offers $105 bn for Qualcomm in landmark deal

Broadcom offered about $105 billion for Qualcomm, kicking off an ambitious attempt at the largest technology takeover ever in a deal that would rock the electronics industry.

Broadcom made an offer of $70 a share in cash and stock for Qualcomm, the world’s largest maker of mobile phone chips. That’s a 28 per cent premium over the stock’s closing price on November 2, before Bloomberg first reported talks of a deal. The proposed transaction is valued at approximately $130 billion on a pro forma basis, including $25 billion of net debt.

Buying Qualcomm would make Broadcom the third-largest chipmaker, behind Intel and Samsung