Friday, 20 April, 2018


Intel mulls possible takeover bid for Broadcom

The fight between the U.S. and China to influence 5G standards is gonna be really ugly The fight between the U.S. and China to influence 5G standards is gonna be really
Conrad Doyle | 14 March, 2018, 07:24

Another source told WSJ that Intel may possibly decide to go after smaller companies for acquisitions. APG Asset Management N.V. now owns 241,339 shares of the semiconductor manufacturer's stock valued at $58,534,000 after buying an additional 9,100 shares in the last quarter. Rosenblatt Securities reiterated a "buy" rating on shares of Broadcom in a research report on Sunday. Sources reportedly told the WSJ that Intel has been looking into making a bid for Broadcom since late a year ago as a way to keep the company from acquiring Qualcomm. Qualcomm has turned down Broadcom several times, citing low valuation as a reason.

A potential bid for Broadcom would surpass that amount; it has a market value of around $104 billion.

Singapore-based Broadcom plans to move its base back to the US just before Qualcomm holds its delayed annual meeting.

If Broadcom can convince USA regulators that it should be allowed to purchase Qualcomm, an even bigger fish is standing by possibly ready to gobble up Broadcom.

The fallout has left the deal of buyout open for everyone.

Qualcomm, meanwhile, has accused Broadcom of "trivializing" national security.

Broadcom said on Friday it expected to complete its move to the United States by May 6. The move could minimize CFIUS' power, with the body regulating foreign investments. Broadcom's CEO, Hock Tan, announced in November at a White House press conference that the company would return to the US, citing the Republican Party's tax overhaul that President Donald Trump would sign the following month. CFIUS has also delayed Broadcom's acquisition of Brocade.

In related news, CFO Thomas H. Krause sold 656 shares of the business's stock in a transaction dated Monday, December 18th. Most Qualcomm board members and employees regarded the acquisition as a fait accompli in view of Broadcom's strong will and the business integration trend in the industry.

At the Qualcomm meeting, Broadcom will seek to elect a new slate of directors that will vote to proceed with the acquisition.

We shall be watching this news with close scrutiny, as the outcome of such a mega deal may create a super-company whose component exists in just about every connected mobile device in the world. The nation's Ministry of Commerce (MOFCOM) is still reviewing the acquisition, and recent moves by the United States government to impose trade tarrifs on Chinese steel and aluminum could complicate matters.

In response to the letter, Broadcom said: "There can be no question that an American Broadcom-Qualcomm combination will provide far more resources for investments and development to that end".

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