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Intel mulls possible takeover bid for Broadcom

Intel mulls possible takeover bid for Broadcom

Intel is considering a range of options in reaction to Broadcom's hostile bid for Qualcomm that could include a bid for Broadcom itself, people familiar with the matter told the Wall Street Journal.

Broadcom's $117 billion bid for Qualcomm has warped into a complex fight over regulatory approvals, security nerves about China's influence on global mobile networks and the best way forward financially for one of the world's dominant chipmakers. If it becomes apparent that Broadcom is likely to prevail, Intel could step in with its own offer for Broadcom, sources said.

In related news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Friday, December 15th. Its offer for Qualcomm has been met with resistance, not only from Qualcomm executives but also from the USA government, which has initiated a review on national security concerns.

Also, there is no clarity if Broadcom's bid to acquire Qualcomm will actually happen. In response, Broadcom is attempting to replace some of Qualcomm's board, allowing the purchase to be finalized.

Qualcomm's annual shareholder meeting, now slated for 5 April, was postponed by 30 days after the Committee on Foreign Investment in the US (CFIUS) this week ordered a national security review of the takeover. Credit Suisse Group reissued a "buy" rating on shares of Broadcom in a report on Tuesday, January 23rd.

Intel has insinuated that its primary focus at the moment is to focus on integration of its recent acquisitions and be able to make a profitable turnaround for the benefit of its customers and its shareholders.

Intel is eyeing acquisitions to remain perched at the top of the semiconductor industry, deals that would pave ways for the tech titan to reshape the fast-consolidating sector to its liking, according to a published report on Friday.

Sam Nunberg Declares He 'Absolutely' Doesn't Regret Media Blitz: 'Monday Was Fun!'
He denied his emails contained damning revelations, but said he did not believe it was fair that he was being forced to provide his records to investigators.

Intel has been considering such a move since late previous year and is working with advisers, it added.

On the other hand, acquiring Broadcom - a market leader in wireless and Bluetooth mobile chips - could give Intel a second chance at success in the mobile market.

As with the Broadcom-Qualcomm deal, the Intel-Broadcom deal would need to go under piercing scrutiny from regulators worldwide.

So initially the PC processor manufacturer is anxious that the acquisition of Broadcom will ultimately fail, but in the event that it is successful, it can try to buy the two companies combined.

Intel receives just over 5 percent of its sales from Apple, compared with about 7 percent for Broadcom, according to data compiled by Bloomberg.

Broadcom is incorporated in Singapore and co-headquartered there and in Irvine, California.


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