The deal would dwarf Dell Inc.'s $67 billion acquisition of EMC in 2015 - then the biggest in the technology industry.
Specifically Broadcom is offering to pay $70.00 per Qualcomm share, with $60.00 being in cash and $10.00 per share in Broadcom shares. The combined Broadcom and Qualcomm, including NXP, will have pro forma fiscal 2017 revenues of approximately $51 billion and pro forma 2017 EBITDA of approximately $23 billion, including synergies.
The Financial Times is reporting that Broadcom is planning to acquire NXP, as well as Qualcomm. It is firm that its pool of patents remains a highly valuable asset and its work on defining 5G network roll-out deserves a larger price. Qualcomm will argue that the proposal is an opportunistic move to buy the chipmaker on the cheap, the people said, and it will likely recommend that shareholders reject it.
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Qualcomm has a (long) pending acquisition, of chipmaker NXP Semiconductors NV, in the works - and Broadcom notes that its offer is not dependent on whether or not Qualcomm manages to close with NXP on the now disclosed terms (it's offering ~$39BN for the Netherlands-based chipmaker which has a focus on car-related applications and also security-based identification). The statement said that there would be no further comment from the company until the assessment was completed.
Many analysts are saying Broadcom is making the play while Qualcomm's business is weaker than usual, as it continues its legal battle with Apple and saw its shares tumble as the company threatens to remove its chips from its smartphones.
Broadcom president and CEO Hock Tan said the bid was "compelling for stockholders and stakeholders in both companies".
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If the offer is accepted, it could indeed push the new company into serious competition with semiconductor leaders Intel and Samsung.
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