Qualcomm poised for fight with Broadcom

Qualcomm declined to comment while Broadcom did not immediately respond to a request for comment

Specifically Broadcom is offering to pay $70.00 per Qualcomm share, with $60.00 being in cash and $10.00 per share in Broadcom shares.

Reuters reported that Broadcom had not contacted Qualcomm about the offer prior to Tan's letter.

Qualcomm is preparing to fend off the unsolicited offer, arguing it undervalues the company, people familiar with the plans have said. CEO Hock Tan last week, saying the company is likely to relocate its headquarters from Singapore to the United States. Today's Broadcom is the product of a $37 billion combination in 2016 between Avago, a Singapore-based company that was once part of a former unit of pioneering PC maker Hewlett-Packard, and Broadcom, another company with origins in Southern California which made chips for tablets, smartphones and other telecom and cable applications.

Qualcomm is trying to close its $38-billion acquisition of NXP Semiconductors NV, one of the largest makers of chips for vehicles and expanding into self-driving technology.

Broadcom is looking to complete its $5.5 billion purchase of Brocade Communications Systems Inc (BRCD.O) while Qualcomm is in the process of closing its deal for NXP.

According to sources Qualcomm is not aware of the details of Broadcom's bid and the company has yet to make any comment.

The deal stands regardless of the results of Qualcomm's $110 per share bid for NXP Semiconductors, Broadcom said in a news release.

Qualcomm shares rose up by 3.6 percent in premarket trading this Monday in NY. The bid follows a series of deals in the components market.

Broadcom said if the deal is approved, it expected a combined company to have revenues of about $51 billion. Broadcom already provides designs for Wi-Fi and Bluetooth chips, and by bringing in Qualcomm it will be able to encompass LTE and 5G capabilities.

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