Intel could launch bid for tech company Broadcom


Alarmed by Broadcom's quest to engineer a hostile takeover of Qualcomm, Intel has begun to scout for an array of alternative acquisitions, according to a report in the Wall Street Journal.

If the Broadcom takeover of Qualcomm does indeed materialize, Intel is reportedly looking for potential buyout of the combined Broadcom company.

Responding to a request for comment on the report, Intel said that it does not comment on "rumors or speculation" related to mergers and acquisitions, but added that it was focused on ensuring its previous acquisitions are successful. One source told the Journal that it would be unlikely.

Intel is considering several other options as well, including making other smaller acquisitions in order to stay competitive.

Men's Basketball To Play Texas A&M On Friday In The NCAA Tournament
Guard Alpha Diallo averages 13 points and 6.6 boards, while point guard Kyron Cartwright averages 11.8 points and 5.7 assists. The Tar Heels will now open up the first two rounds of the tournament close to home, playing in Charlotte, North Carolina .

Such a deal would cost Intel, which has a market capitalization of about $244 billion, more than Broadcom's market cap of $1o4 billion.

Its offer for Qualcomm has been met with resistance, not only from Qualcomm executives, but also from the USA government, which has initiated a review on national security concerns.

With the aim of derailing the deal, this has been seen as a true worry to the Intel Company because out of the deal, it is expected that a possible 3 largest chip company in terms of revenue is likely to emerge after Samsung and Intel.

This week, the US Department of the Treasury ordered a 30-day postponement to Qualcomm's shareholder meeting, which was supposed to hold a vote on a slate of Broadcom board nominees. However, at the request of CFIUS, the proxy vote by Qualcomm stockholders was pushed to April 5.

Metro future: Elon Musk showed new development
Tesla shares were down half a per cent at $327.25 after markets closed on Thursday. A spokesman for Boring Co. didn't immediately respond to a request for comment.

Broadcom said US national security concerns are not a risk to the closure of the proposed buyout as it never planned to acquire the company before it completes redomiciliation.

Yet in reality, Intel, who is favored to gain contracts from Apple for modems for next generation devices over Qualcomm, could lose that business to Broadcom should their bid be allowed to proceed. Vetr lowered Broadcom from a "strong-buy" rating to a "buy" rating and set a $295.36 price objective for the a research note on Wednesday, January 3rd.

"It makes sense after Intel acquired Altera; they have a roadmap in the networking space, buying Broadcom would give Intel broader exposure to the networking world", said Jun Zhang, an analyst at Rosenblatt. Apple, locked in a legal dispute with Qualcomm over licensing fees, has been working to strip Qualcomm chips from future devices.

Get Data Sheet, Fortune's technology newsletter.

Trump orders tariffs on steel, aluminum imports
Mr. "Obviously as a country that will be exempt from those tariffs, we don't have a basis to bring a complaint", he said. Jeff Flake of Arizona says, "Congress can not be complicit as the administration courts economic disaster".