Broadcom has proposed to buy its rival Qualcomm in a semiconductor deal that would be the largest-ever takeover in tech.
In a statement Monday, Broadcom said it offered Qualcomm shareholders $60 in cash and $10 a share in Broadcom shares. The offer represents a 28% premium to Qualcomm's closing price of $54.85 on Thursday, before initial reports of deal talks sent Qualcomm shares up 12% on Friday. It was valued at about $130 billion on a pro forma basis, including $25 billion of net debt.
From Business Insider / written by Akin Oyedele
In the past and for many years, Qualcomm had been one of our favorite stock in the US stock universe.
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