Economy

Broadcom bids $130 Billion to acquire Qualcomm

Broadcom bids $130 Billion to acquire Qualcomm

According to CNBC, Broadcom brought the offer to Qualcomm privately more than a year ago but was rebuffed. We note that Broadcom's bid is independent of Qualcomm's success in closing its bid for NXP.

"There is a long road here, while Broadcom is one of the most disciplined acquirers, we think in an unsolicited offer - rarely is the 1st offer the last one, suggesting there is an upside bias to Broadcom's math. Net/Net: We think this deal fits Broadcom's strategy and could be a material catalyst to enable earnings per share and free cash flow upside".

Japanese telecoms firm SoftBank has already agreed a deal to buy British semiconductor firm Arm, while Intel bought Altera, and Qualcomm has agreed a deal for NXP. Since we now view Qualcomm as fairly valued at best after the bid, we don't necessarily believe that investors need to cash out on this news. We refer investors to our November 3 note, written after Bloomberg and The Wall Street Journal surfaced rumors about the potential bid, but in short, we see a sound strategic rationale for such a deal, and the financial component is especially attractive for Broadcom because we value Qualcomm at $68 per share on a stand-alone basis.

Twenty-First Century Fox And Walt Disney Said To Be In Talks
Fox's shares rose 5.8 per cent to $26.40 USA in afternoon trading, after being halted in the morning when the report came out. If a deal like this did happen and did receive regulatory approval, it could have some significant effects on sports.

Citing sources, Bloomberg claimed that the Qualcomm board is likely to advise shareholders to reject the deal, while also claiming that any potential deal could run into regulatory problems.

"Broadcom management comments about "confidence that our common global customers would embrace the proposed combination" could mean that the company has had discussions with large OEMs like Apple and Samsung".

Hock Tan, president and CEO of Broadcom, said in a statement: "This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products".

Conte dismisses Milan links after Chelsea victory
Chelsea now take a break for global football and play West Brom next in the Premier League on Saturday, November 18. The Italian gaffer added: "I decided this tonight, maybe I can decide a different way in the future".

The bid comes as Broadcom plans to move its headquarters to the United States from Singapore.

Broadcom facility in Silicon Valley.

(Colo.)- Avalanche Trade Matt Duchene To Senators
Turris, 28, immediately signed a six-year, $36 million extension with the Predators once the trade became official. That's way down from the previous season, in which he put up 30 goals and 29 assists in 76 games.


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