Variety reports: “Chip maker Broadcom has made an unsolicited offer to buy its rival Qualcomm for $105 billion. The acquisition would be the biggest tech deal to date, and turn Broadcom into the world’s number 3 chip maker behind Intel and Samsung. However, Qualcomm is reportedly going to rebuff the offer, arguing that it undervalues the company. This could set the stage for a proxy fight. Broadcom officially announced its intention to buy Qualcomm Monday morning, saying that it is willing to pay $70 per share in cash and stock for Qualcomm.”

Read more