(Reuters) – Chip maker Broadcom Ltd on Monday announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion as it looks to boost its presence in the wireless market, setting the stage for what could be one of the biggest takeover battles.FILE PHOTO: Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California May 12, 2016. REUTERS/Mike Blake/File PhotoQualcomm said it would review the proposal and act in the best interests of its shareholders. The company is inclined to reject the bid as too low and fraught with risk that regulators would reject it or take too long to approve it, people familiar with the matter told Reuters.A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raise the stakes for Intel Corp, whoch has been diversifying into smartphone technology from its stronghold in computers.
Källa: Broadcom offers $103 billion for Qualcomm, sets up takeover battle
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