Broadcom Reportedly Explore Deal To Acquire Qualcomm

(RTTNews) - Broadcom Ltd. (AVGO) is considering a bid of more than $100 billion for Qualcomm Inc. (QCOM), according to media reports, citing people familiar with the matter.

Broadcom may launch its bid for Qualcomm this week end and it is likely to be made up mainly of cash with 10% or 20% in stock, the Wall street Journal reported.

The value of Broadcom's bid has not been decided, though an offer in the range of around $70 to $80 per share is being contemplated, one of the sources said.

Qualcomm shares rose as much as 19 percent on report of takeover plans and closed up 12.71 percent at $61.81, valuing the company at $91 billion. Broadcom rose 5.45 percent to $273.63.

Representatives for Broadcom and Qualcomm declined to comment.