San Francisco — Broadcom offered $130bn 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, a 28% premium for the world’s largest maker of mobile phone chips as of the stock’s closing price on November 2. Buying Qualcomm would make Broadcom the third-largest chipmaker, behind Intel and Samsung Electronics. The combined business would instantly become the default provider of a set of components needed to build each of the more than a billion smartphones sold every year. The deal would dwarf Dell’s $67bn acquisition of EMC in 2015 — then the biggest in the technology industry. "This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products," Hock Tan, the president and CEO of Broadcom, said in a statement Monday. "We would not make this ...
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