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Qualcomm: Broadcom makes unsolicited takeover bid.

(CercleFinance.com) - This Monday US chipmaker Broadcom proposed to acquire Qualcomm, a maker of cellphone chips, in a transaction valued at approximately 130 billion dollars.

Under Broadcom's proposal, the 70 dollars per share to be received by Qualcomm stockholders would consist of 60 dollars in cash and 10 dollars per share in Broadcom shares.

The offer represents a 28% premium over Qualcomm common stock's closing price on 2 November,, Broadcom said.

Broadcom says the transaction would position the combined company as a global communications leader with an "impressive" portfolio of technologies and products.

Its proposal stands, irrespective of whether Qualcomm's pending acquisition of NXP Semiconductors is consummated or terminated.

Qualcomm confirmed that it has received an unsolicited proposal from Broadcom and said it will assess the proposal.

Qualcomm shares were trading up 4% at 64.3 dollars in pre-market trading, giving the group a market capitalisation of 90 billion dollars.

Meanwhile, the Broadcom stock was up 2% in pre-market trading, representing a market capitalision of around 117 billion dollars.

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