Broadcom Proposes to Acquire Qualcomm for $70 Per Share
* Broadcom Proposes to Acquire Qualcomm for $70 Per Share In Cash And Stock
*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.
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.
(More to Come)
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
November 06, 2017 08:07 ET (13:07 GMT)