Broadcom's bid for Qualcomm could shake up the chip industry (AVGO, QCOM)
09 November, 2017, 02:06 | Author: Terri Saunders
However, it seems that Qualcomm may not be interested in the unsolicited bid, as reports indicate that the company will reject the offer. (NASDAQ:QCOM) valued at $103 billion. The company would have to close its acquisition of NXP Semiconductors, which it is now wrapping up for $47 billion.
Given China's ambitions in the chip and mobile telecoms space, I can't see the Chinese authorities taking kindly to a Broadcom-Qualcomm merger.
In a report previous year, the China-based benchmarking company AnTuTu ranked Qualcomm's Snapdragon 820 system-on-chip the leader in the global smartphone processor market, with more than 21 percent of the market.
Some of the factors favoring the success of the deal include the fact that the two companies could achieve product synergies given that they both manufacture mobile chipsets.
Qualcomm's core business is designing the chip-based radios used by smartphones to connect to cellular networks, while a big part of Broadcom's business is designing chip-based Wi-Fi and Bluetooth radios. (NASDAQ:AAPL) could also favor the deal's approval by shareholders.
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However, some analysts believe that Broadcom does not have the financial capacity to acquire Qualcomm and that the acquisition might generate negative returns for Broadcom shareholders.
And since Qualcomm and Broadcom's combined China income surpasses 2 billion yuan ($300 million) and their combined global revenues in the a year ago were over 10 billion yuan ($1.5 billion), the Chinese government has enough to legally warrant an investigation. The deal would merge the two companies, creating the third largest chip maker in the world.
Antitrust officials, who also would have to approve a Broadcom-Qualcomm deal, still are considering Qualcomm's purchase of NXP. Broadcom was confident that the acquisition would be met favorably by users.
It is not clear whether Qualcomm will engage with Broadcom in talks about the proposal or fight against the suggested takeover. As a free trial member, you will have access to over 1300 real time stock trading reports full of actionable trading strategies.
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