Broadcom Ltd. (NASDAQ:AVGO) is planning an unsolicited takeover approach to rival chip maker Qualcomm Inc., according to a person familiar with the matter.
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Broadcom could launch its bid for Qualcomm (NASDAQ:QCOM) as soon as this weekend, the person said.
A deal would be enormous, given Qualcomm's current market value of nearly $90 billion. There's no guarantee an approach will be made or that Qualcomm would be receptive. It's even less certain that ultimately there would be such a deal, given potential regulatory and other hurdles.
Should there be a deal between Broadcom and Qualcomm, it's not clear what that would mean for Qualcomm's effort to buy NXP Semiconductors NV, a nearly $40 billion proposed takeover Qualcomm announced over a year ago.
Bloomberg earlier reported that Broadcom was mulling a bid for Qualcomm.
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(END) Dow Jones Newswires
November 03, 2017 14:19 ET (18:19 GMT)
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