Chip-maker Broadcom wants to absorb one of its biggest competitors – and it’s willing to spend a whole lot of money to make that happen. The company announced an unsolicited pitch to acquire Qualcomm, offering to spend close to $105 billion. (The deal would amount to about $130 billion when factoring in the debt that Broadcom would take on.) It does seem like an appropriate time to make such an offer: Qualcomm has been engaged in a bitter legal battle with Apple, arguing that the tech giant hasn’t been paying enough for the licensing of its intellectual property. The ongoing court fight has damaged Qualcomm’s stock price, making it more of an acquisition target. According to Bloomberg, Qualcomm is planning to rebuff the offer, arguing that Broadcom is undervaluing the company. If Qualcomm does indeed recommend that its shareholders reject the offer, Broadcom could still potentially move forward with a proxy fight, attempting to win over shareholders’ support in a bid to gain control of the company.
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