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Hunter to Hunted - Broadcom
10-03-2018, 02:18 PM,
Post: #1
Hunter to Hunted - Broadcom
  • Intel has considered Broadcom bid if Qualcomm deal goes through: ReportBy Jeremy C. OwensPublished: Mar 9, 2018 5:44 p.m. ETSHAREShares of Broadcom Ltd. AVGO, +2.77% jumped Friday afternoon after a report that Intel Corp. INTC, +2.86% has considered making a bid for the company if its hostile takeover attempt of Qualcomm Corp. QCOM, +1.96% succeeds. According to The Wall Street Journal, Intel -- the world's largest chipmaker -- would see a combined Broadcom and Qualcomm as a serious competitive threat, and has been planning potential approaches were it to be successful. The report, which cited multiple anonymous sources, said that Intel has considered making its own bid for the combined company, and was working with advisers. Broadcom stock jumped 7% in after-hours trading following the report's release, while Intel and Qualcomm stocks were trading down less than 1% from their closing prices. Broadcom stock is up 14.3% in the past year, as the S&P 500 index SPX, +1.74%has gained 15.8%.

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