POSSIBLE TAKEOVER BID:Broadcom considers acquiring Qualcomm, which faces a US$770 million fine in Taiwan, similar fines elsewhere and a patent battle with Apple

Taipei Times
Date: Nov 05, 2017
By: AFP, SAN FRANCISCO

Shares of Qualcomm Inc jumped nearly 13 percent on Friday after unconfirmed media reports said rival computer chip giant Broadcom Ltd might make an unsolicited takeover bid.

Broadcom is considering an acquisition plan, which it could put into motion as soon as this weekend, the Wall Street Journal reported, citing an unnamed source it said was familiar with the matter.

Shares in Qualcomm closed up 12.71 percent to US$61.81 on the NASDAQ exchange, valuing the company at US$91 billion. That could make the deal the biggest ever in the technology sector.

Broadcom shares also gained ground on the NASDAQ, rising 5.45 percent to US$273.63, valuing the company at more than US$116 billion, in a possible sign that the market saw merit in the acquisition.    [FULL  STORY]