Broadcom $117 billion hostile bid for Qualcomm

Overview:

• Semiconductor designer and developer Broadcom has made a $117 billion bid for competitor Qualcomm in an attempt at a hostile takeover.
• The original bid by Broadcom was made in November 2017 for $121 billion, but was lowered in response to Qualcomm's own recently changed bid for NXP Semiconductors. 
• The deal has progressed slowly, with the Committee on Foreign Investment in the United States (CFIUS) expressing concerns about the security implications of Singaporean Broadcom obtaining ownership of Qualcomm. 
• Broadcom was acquired by Singapore-based Avago Technologies in 2016, but kept the name Broadcom. 
• Financial advisers for Broadcom include Moelis & Company, Citigroup Global Markets, Deutsche Bank, JP Morgan Securities, BofA Merrill Lynch and Morgan Stanley. 
• If it closes, this will be the largest technology sector transaction in history. 

Kurt Stumpo - Journalist