NEW YORK — Broadcom made an unsolicited, $103 billion offer for rival chipmaker Qualcomm, the tech industry’s largest attempted takeover that is destined to come under intense regulatory scrutiny. Qualcomm and Apple have been locked in a long running legal battle, with Apple refusing to pay any royalties owed to Qualcomm for some of the features in the iPhone. The Broadcom offer of $70 per share to Qualcomm stockholders would be $60 per share in cash and $10 per share of Broadcom. Last week, Qualcomm reported revenue of $22.3 billion for fiscal 2017. Broadcom said if the deal is approved, it expected a combined company to have revenues of about $51 billion.

Source: National Post November 06, 2017 12:56 UTC