>> I could be the biggest tech acquisition ever. Chip maker Broadcom on Monday, made an unsolicited bid of $103 billion in cash and stock to buy Qualcomm. Setting the stage for a major takeover battle as it looks to dominate the fast growing market of wireless communication chips for smartphones used in both the latest iPhone and Android models.
Reuters M&A correspondent Liana Baker.>> Broadcom under CEO Hock Tan is a very aggressive company when it comes to acquisitions. They have huge ambitions and they've bought many billion dollar companies over the years, but this would be their largest target yet. They're trying to strike, well Qualcomm is in the midst of some internal drama with their customer Apple.
>> A patent dispute with Apple has held down Qualcomm's share price, making it vulnerable to a potential take over. Broadcom has hinted that a merger could lead to an improved relationship with Apple. Broadcom bid ome as Qualcomm is trying to close a $38 billion deal for NXP semiconductors.
It also raises the states for Intel which is also looking to diversify into smart phone technology. Broadcom is offering a 27.6% premium over Qualcomm's closing share price on Thursday.