Intel To Weigh In Broadcom Bid
Intel is considering a range of acquisition alternatives in reaction to Broadcom’s hostile pursuit for Qualcomm. That could include a bid for Broadcom from Intel, market watchers say.
Intel has been mulling a move since late last year and is working with advisers on a bid for Broadcom, which has a market value of about US$104 billion.
That appeared to lengthen the odds that Broadcom and its chief executive, Hock Tan, would succeed in their pursuit of Qualcomm, which has rejected the $117 billion offer as too low.
Qualcomm, looking to assert its board’s independence, said Paul Jacobs would no longer be executive chairman. Jacobs, the son of Qualcomm co-founder Irwin Jacobs, will remain on the board. Current board member Jeffrey Henderson was named non-executive chairman.