Published: Thu, March 15, 2018
Science | By Cecil Little

Qualcomm + Broadcom = Intel? Sounds far-fetched

Qualcomm + Broadcom = Intel? Sounds far-fetched

Broadcom's now market value stands at around $104 billion.

Late Friday, The Wall Street Journal reported (http://www.marketwatch.com/story/intel-has-considered-broadcom-bid-if-qualcomm-deal-goes-through-report-2018-03-09) that Intel Corp.

Intel-Broadcom merger has however been termed as not possible because Intel over the period has been weighing a series of other acquisitions.

"Broadcom recognizes the essential role the member agencies of CFIUS play in ensuring US national security", the company said.

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But if Intel were looking to disrupt Broadcom's pursuit of Qualcomm, an Intel rival, then the notion that Intel might somehow get involved might just do the trick.

Singapore-based tech company Broadcom Limited is speeding up plans to relocate its headquarters to the U.S.so it can acquire Qualcomm, the only semiconductor manufacturer based in America, and is running into more trouble with the government, which has verified national security concerns in an investigation.

U.S. President Donald Trump issued an order on Monday prohibiting semiconductor maker Broadcom Ltd's (AVGO.O) proposed takeover of Qualcomm Inc (QCOM.O) on grounds of national security, bringing an end to what would have been the technology industry's biggest deal ever. Broadcom's revenue was up 17.1% compared to the same quarter last year. research analysts anticipate that Broadcom will post 17.41 earnings per share for the current fiscal year. According to the report, Intel is regarding Broadcom's acquisition of Qualcomm as a significant threat and considering acquiring Broadcom along with a small semiconductor company.

CFIUS on March 4 ordered Qualcomm to postpone a shareholder meeting to vote on Broadcom's nominees to Qualcomm's board.

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"Broadcom will not sell any critical national security assets to any foreign companies", the letter said.

Broadcom on Friday said it expected to complete its move to the U.S. by May 6. Broadcom hopes to replace the majority of the board's members to help it succeed in its acquisition attempt, while Qualcomm has made moves to maintain its board's independence. It said it will maintain Qualcomm's 5G research and development resources and it pledged to create a new $1.5 billion fund to "train and educate the next generation of engineers in the U.S." to "ensure America's lead in future wireless technology". Once the move is done, Broadcom could argue that CFIUS does not have jurisdiction, the second expert said.

Acquisitions like these often reviewed by the respective United States regulatory authorities and if it has been witnessed that the deal could somehow compromise the best interests of the country, it is immediately turned down.

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