Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion

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As of Monday, shares of Qualcomm are still about 8% lower than the $70 per share offer price. "Our proposal provides Qualcomm stockholders with a substantial and immediate premium in cash for their shares, as well as the opportunity to participate in the upside potential of the combined company", said Hock Tan, president and chief executive officer of Broadcom. We note that Broadcom's bid is independent of Qualcomm's success in closing its bid for NXP. It seems that Broadcom have set its sights on Qualcomm, offering $130 billion to buy out the company and its assets.

"Chipmaker Broadcom officially unveiled a $130bn offer, including net debt, for Qualcomm on Monday, in what could be the largest tech deal in history".

Shah believes Broadcom would encourage Qualcomm to complete its NXP acquisition as it has extensive distribution channels, scale and exposure to the fastest growing segments in automotive, where Broadcom is underpenetrated.

Shareholders of both companies seemed to approve however - the share price of Qualcomm and Broadcom rose as news of the bid emerged, Whether this feeling of optimism will persist in the face of takeover battle remains to be seen.

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Qualcomm shares rose up by 3.6 percent in premarket trading this Monday in NY.

Antitrust concerns over a Broadcom-Qualcomm deal also may be muted because the companies have few areas of overlap beyond Wi-Fi solutions for wireless routers, Bluetooth drivers and some RF semiconductors, said Rob Lineback, a research analyst at IC Insights.

Adjacent products are often cheaper when offered by one company, according to standard economic theory, which could be good for phone makers and potentially incline regulators toward allowing the deal, said Henry C. Su, a former Federal Trade Commission trial attorney.

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