Broadcom Exploring Qualcomm Acquisition: Report – Investor's Business Daily

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One day after Singapore-based Broadcom (AVGO) announced plans to move its headquarters to the U.S., a news report circulated that the chipmaker wants to buy San Diego-based Qualcomm (QCOM) in a deal that would create a semiconductor powerhouse.

Bloomberg reported Friday that Broadcom is consulting advisers about the possible megadeal. Broadcom has a market capitalization of about $115 billion, while Qualcomm has a market cap of roughly $91 billion.

Broadcom stock was up 4%, near 270, in afternoon trading on the stock market today. Qualcomm was up 12%, near 61.60.

Details to follow.

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