Broadcom Proposes to Acquire Qualcomm for $70 Per Share

By Imani Moise Features Dow Jones Newswires

* Broadcom Proposes to Acquire Qualcomm for $70 Per Share In Cash And Stock

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*Broadcom Proposal Valued at $130 Billion

*Broadcom Proposal Represents 28% Premium Over Qualcomm's Nov. 2 Closing Price

*Broadcom, Qualcomm Transaction Won't Be Subject to Any Financing Condition

Write to Imani Moise at imani.moise@wsj.com

Broadcom Ltd. launched takeover bid for fellow-chip maker Qualcomm Inc. in a cash-and-stock-deal worth well over $100 billion.

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The California-based company offered $70 per share for Qualcomm, representing a 28% premium from Thursday's closing price before The Wall Street Journal reported that an approach might happen. The deal carries an enterprise value of roughly $103 billion and includes about $25 billion of debt.

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Write to Imani Moise at imani.moise@wsj.com

(END) Dow Jones Newswires

November 06, 2017 08:07 ET (13:07 GMT)