Intel May Acquire Broadcom If It Buys Qualcomm: WSJ

(RTTNews) - A new report suggests that chip maker Intel might offer a bid to acquire Broadcom, the company that is trying to take over Qualcomm.

According to Wall Street Journal, citing people familiar with the matter, Intel is considering a range of acquisition alternatives in reaction to Broadcom hostile pursuit for Qualcomm, including a bid for Broadcom.

The news report says Intel, which is the world's largest semiconductor company, wants the merger between Broadcom and Qualcomm to fail as the combined company would pose a big threat for it. If Broadcom is successful with its hostile takeover of Qualcomm, Intel would place its own bid for Broadcom.

Broadcom currently has a market value of about $104 billion.

Broadcom has been in a long hostile takeover battle with Qualcomm. Qualcomm had rejected Broadcom's initial $105 billion bid, which Chief Executive Officer Steve Mollenkopf said "isn't even in the ballpark." Broadcom submitted a revised bid later, which was also rejected by Qualcomm.