Intel mulls possible defensive bid for Broadcom, WSJ reports

Big Booths of CES 2018 Central Hall

This latest twist in Broadcom's efforts to acquire Qualcomm comes after the Committee on Foreign Investment in the United States (CFIUS) has raised concerns about the deal, claiming it would put USA national security at risk. The company has a market capitalization of $104,173.39, a PE ratio of 17.62, a P/E/G ratio of 1.06 and a beta of 0.88. Although Intel no longer develops SoCs for smartphones, it still manufactures other components, like cellular radios and the combination of Broadcom and Qualcomm could mean a serious threat to the company.

Intel could launch a bid for U.S. tech company Broadcom in a bid to scupper its pursuit of chipmaker Qualcomm. At least, that would be the case if the deal exists: Intel, naturally, has refused to comment on what it describes as rumours and speculation, while both Qualcomm and Broadcom have been silent on the matter.

However, WSJ's sources noted that the offer is not guaranteed. "We are in the midst of massive consolidation in the semiconductor industry".

Representatives of Broadcom didn't immediately respond to a request for comment.

"There is synergy with Intel for sure", Patrick Moorhead, president and principal analyst at Moor Insights & Strategy, told SiliconANGLE. "Broadcom has a major data center networking play that fits nicely with Intel as well".

Qualcomm's board of directors unanimously rejected an acquisition proposal from rival Broadcom in February saying that they are turning down the latter's $121 billion bid.

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The idea of an IntBroad merger has some appeal, as Broadcom's portfolio overlaps Intel's, but the two don't go head-to-head in the same way that Qualcomm's burgeoning CPU portfolio threatens Intel's desktop and server franchises.

Meanwhile, Qualcomm has moved to acquire NXP Semiconductors in a deal that values the Dutch chipmaker at $44bn.

On the other hand, acquiring Broadcom - a market leader in wireless and Bluetooth mobile chips - could give Intel a second chance at success in the mobile market.

The deal's pushback on national security grounds is seen by some as trade posturing by the Trump administration against China.

CFIUS had delayed Qualcomm's annual meeting by a month to April 5.

For its part, Broadcom, insisted in a statement Wednesday that it's "in every important respect an American company". Qualcomm and Intel each fell less than 1 percent, to US$62.87 and US$51.84, respectively. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.

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