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Qualcomm's stock soars on reports that Broadcom wants to buy it

Qualcomm's stock soars on reports that Broadcom wants to buy it

Broadcom Ltd. reportedly is mulling over a bid to acquire rival chip maker Qualcomm Inc., a deal that could top $100 billion and be the largest in the semiconductor industry.

The stock of San Diego-based Qualcomm shot up more than 15% at one point during trading Friday after reports surfaced that Broadcom was considering making an unsolicited offer.

Qualcomm rose $6.97, or 12.7%, to $61.81 share, giving it a current market value of $91.3 billion. Broadcom rose $14.13, or 5.5%, to $273.63 a share.

Qualcomm and Broadcom declined comment on the reports from Bloomberg and the Wall Street Journal, but Broadcom Chief Executive Hock Tan has a history of aggressively acquiring...

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