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Qualcomm surges on talk of $100 billion takeover by Broadcom

Broadcom is looking at acquiring Qualcomm, sources say.

    Broadcom explores deal to buy Qualcomm, say sources    6:17 PM ET Fri, 3 Nov 2017 | 02:14

    Broadcom is looking into an unsolicited bid to acquire Qualcomm for more than $100 billion, according to sources.

    Broadcom is talking with advisors 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 percent Friday after the report, while Qualcomm's stock surged 12.7 percent.

    Broadcom did not immediately respond to a request for comment. A spokesperson for Qualcomm had no comment.

    WATCH: Will Broadcom really make a bid for Qualcomm?

      Will Broadcom really make a bid for Qualcomm?    3:34 PM ET Fri, 3 Nov 2017 | 04:19