Avago Technologies May Buy Broadcom
Avago Technologies is in advanced talks to acquire Broadcom, reports the Wall Street Journal. Terms of the deal are not yet available, and the Journal's sources say the deal may not be signed. Broadcom's market valuation is about $28 billion and Avago's is about $34 billion. Broadcom makes wireless modems and other chips for mobile devices. It has struggled to compete in recent years with Qualcomm, Samsung, and others.
Avago to Buy Broadcom for $37 Billion
Avago Technologies today said it plans to acquire Broadcom for $37 billion. Avago is offering Broadcom's shareholders $17 billion in cash and $20 billion in Avago stock.
Broadcom to Cut Up to 1,900 Jobs
Broadcom Limited said it plans to reduce its headcount by about 1,900 jobs. The cuts will be made across Broadcom's global facilities and the company expects to take a charge of $650 million to cover the cost of the cuts.
Qualcomm Rejects Broadcom's Acquisition Offer
Qualcomm's board of directors today unanimously rejected Broadcom's Nov. 6 offer to buy the company in a deal that would have been valued at approximately $130 billion.
Qualcomm Says It Met with Broadcom to Discuss Acquisition
Qualcomm today said members of its board of directors and senior management met with Broadcom to talk about the latter's acquisition offer. Broadcom offered to buy Qualcomm for $121 billion, but Qualcomm shot the deal down.
Qualcomm Says Broadcom's Overtures Not Striking Right Notes
Qualcomm today said Broadcom's acquisition offer simply isn't good enough as currently proposed. The companies met earlier this week to go over some of the finer points of Broadcom's $121 billion bid to purchase Qualcomm, and Qualcomm still came away leery that the deal won't work out.