Following recently surfaced rumors that such a proposal was in the works, Broadcom formally announced an offer to acquire Qualcomm for a whopping $105 billion. The deal would see Broadcom offering a price of $70 a share in cash and stock, with a total transaction value of around $130 billion on a pro forma basis, including $25 billion of net debt, Broadcom says.
If the deal were to be accepted and approved, the acquisition would be the largest takeover of a chip manufacturer ever. Moreover, the combined heft of Qualcomm and Broadcom would create an absolute giant among chip makers, particularly in the smartphone space. Qualcomm's modems are already present in nearly every smartphone on the market, and Broadcom already commands a major share of Wi-Fi chipsets on the market.
That said, this is an unsolicited proposal from Broadcom, so it's unlikely we'll see Qualcomm jump at the offer. Qualcomm could negotiate for a higher price, or reject the offer outright. Still, the timing of the offer is interesting, as it comes amidst legal disputes between Qualcomm and Apple that have only continued to heat up over the course of 2017. Qualcomm is also currently working closely with Microsoft on the upcoming Windows 10 on ARM.
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