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Intel planning to bid for Broadcom: Report

IANS  |  San Francisco 

Corporation is reportedly mulling a bid for company Broadcom, a month after the latter's proposal to takeover rival was rejected.

"Corp. is considering a range of acquisition alternatives in reaction to Ltd.'s hostile pursuit for Inc. that could include a bid for Broadcom," reported on Saturday.

has been aggressively pursuing its bid for that could pose much larger competition for which is the of processors for desktops and laptops.

"Intel is watching the takeover battle closely and is eager for to fail as the combined company would pose a serious competitive threat," the report added.

This report comes at a time when Broadcom's attempt to buy Qualcomm is said to be in jeopardy as the (CFIUS) outlined concerns it had about the transaction.

In letter addressed to both the company's lawyers, CFIUS listed issues, including Broadcom's reputation for cutting research spending, a concern and shared.

It also mentioned potential national security risks that could arise from exploiting or compromising Qualcomm's assets through arrangements with "third party foreign entities", according to CNBC.

Qualcomm's board of directors unanimously rejected an acquisition proposal from rival Broadcom in February saying that they are turning down the latter's $121 billion bid.

The multinational company said that it was still undervalued at $121 billion after Broadcom make a revised offer to Qualcomm on February 6, up from the previously proposed deal price of $70 per share.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 10 2018. 18:46 IST
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