Qualcomm shares surge 13% on talk of $100 billion takeover by Broadcom
Broadcom is looking into an unsolicited bid to acquire Qualcomm for more than $100 billion, according to sources.
Broadcom is talking with advisers about a potential deal, which would be the biggest ever takeover of a chipmaker.
Bloomberg News first reported the deal, saying an unsolicited bid could be for around $70 a share. That would give Qualcomm a market value of $103.2 billion. The deal price was later confirmed by sources of CNBC.
Dow Jones reported Broadcom plans to make a bid for Qualcomm as early as this weekend.
Shares of Broadcom closed up 5.5% Friday after the report, while Qualcomm's stock surged 12.7%.
Broadcom did not immediately respond to a request for comment. A spokesperson for Qualcomm had no comment.
More: Don't want an iPhone 8 or iPhone X? There are plenty of alternatives
More: IPhone supplier Broadcom, seeking merger OK, unveils plan with Trump to return HQ to U.S.