Chipmaker Broadcom plans unsolicited bid for Qualcomm: source
November 4, 2017 by admin
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(Reuters) – Broadcom Ltd (AVGO.O) is planning an unsolicited bid for smartphone chipmaker Qualcomm Inc (QCOM.O) with an offer possible as soon as this weekend, a source familiar with the matter said on Friday.
A tie-up between the two chipmakers would be the latest in the semiconductor industry that has been rapidly consolidating as companies try to capture a big share of the fast-growing market for connected devices and connected cars.
Broadcom is speaking to advisers and the offer of about $70 a share would include cash and stock, Bloomberg reported earlier, citing people familiar with the matter. bloom.bg/2h8pnlS
No final decisions have been made and there is no guarantee a deal will go ahead.
The $70-per-share price values Qualcomm at $103.2 billion. The potential offer is a premium of 27.6 percent to Qualcomm’s Thursday close.
“It’s a smart move that would make Broadcom into a tech juggernaut,” said GBH Insights analyst Daniel Ives.
Qualcomm declined to comment, while Broadcom did not immediately respond to a request for comment.
Broadcom plans to redomicile to the United States from Singapore, President Donald Trump said on Thursday at a White House event where the company’s Chief Executive Hock Tan cited Republican tax efforts. It is currently incorporated in Singapore and co-headquartered there and in San Jose, California.
Qualcomm, an early pioneer in mobile phone chips, supplies so-called modem chips to phone makers such as Apple, Samsung and LG that help the phones connect to wireless data networks. Broadcom is also a major supplier to many of the same companies for Wi-Fi chips.
Broadcom’s Wi-Fi chips are essentially a commodity and priced much lower than the modem chips.
The only other major supplier of high-end chips is Intel Corp (INTC.O), which supplies about half of the modem chips in Apple’s (AAPL.O) iPhones. Purchasing Qualcomm would give Broadcom a much more lucrative line of business in the mobile phone markets.
Intel shares were down 2.3 percent at $45.99 in late trading on Friday.
Broadcom is looking to complete its $5.5 billion purchase of Brocade Communications Systems Inc (BRCD.O) while Qualcomm is in the process of closing its $38 billion deal for NXP Semiconductors NV (NXPI.O). Shares of Qualcomm jumped 13 percent, while Broadcom’s stock climbed nearly 6 percent to $274.43 on Friday afternoon. Shares of NXP fell 3 percent and Brocade was down 1.7 percent.
Shares of Broadcom have risen more than 53 percent this year while Qualcomm has fallen 4 percent. The forward price-to-earnings ratio for Braodcom stands at 14.6, slightly above its 13.5 average. Qualcomm’s forward PE of 15.4 is well below its 25.9 average.
The report also comes when Qualcomm faces a multi-national legal battle with Apple Inc (AAPL.O) over Qualcomm’s licensing terms to Apple.
Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; editing by Arun Koyyur and Nick Zieminski
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The Latest: 3 victims of Walmart shooting identified
November 3, 2017 by admin
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http://www.sfgate.com/news/crime/article/The-Latest-Police-name-suspect-in-Colorado-12325944.php
Police in Thornton, Colo. say a tip from a citizen helped officers apprehend a man suspected of opening fire at a suburban-Denver Walmart, killing three people Wednesday evening. (Nov. 2)
Media: Associated Press
THORNTON, Colo. (AP) — The Latest on the shooting at a Colorado Walmart (all times local):
1 p.m.
Authorities have identified the three people who were fatally shot at a Walmart in suburban Denver.
Coroner Monica Broncucia-Jordan said Thursday that 52-year-old Pamela Marques, 66-year-old Carlos Moreno, and 26-year-old Victor Vasquez died in Wednesday night’s shooting.
Moreno was a grandfather who was a longtime maintenance worker at the Auraria Higher Education Center. It houses various state colleges and universities in downtown Denver.
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Marlena Fobb, front right, of Thornton, Colo., who was shopping at the time of the shooting at a Walmart store, hugs an unidentified store employee Thursday, Nov. 2, 2017, in Thornton, Colo. The store was the scene of a shooting Wednesday night when a man walked in and opened fire with a handgun. The suspect was arrested Thursday, about 14 hours after fleeing the store. Fobb’s husband, Jason, left, holds the vacuum cleaner that the couple was purchasing at a self-check stand when the suspected gunman entered the store. less
Photo: David Zalubowski, AP
Jason Fobb, second from left, comforts his daughter, Angelique, as Fobb’s wife, Marlena, right, embraces her daughter Destiney outside a Walmart store Thursday, Nov. 2, 2017, in Thornton, Colo. The couple was in the store at the self-check stand Wednesday night when a man walked in and opened fire with a handgun, killing several. The suspect was arrested Thursday, about 14 hours after fleeing the store. less
Jason Fobb, second from left, comforts his daughter, Angelique, as Fobb’s wife, Marlena, right, embraces her daughter Destiney outside a Walmart store Thursday, Nov. 2, 2017, in Thornton, Colo. The couple was … more
Photo: David Zalubowski, AP
Marlena Fobb, right, holds her daughter, Destiney, outside a Walmart store Thursday, Nov. 2, 2017, in Thornton, Colo. Marlena Fobb and her husband, Jason, were inside the store Wednesday night when a man walked in and opened fire with a handgun, killing several shoppers. The suspect was arrested Thursday, about 14 hours after fleeing the store. less
Marlena Fobb, right, holds her daughter, Destiney, outside a Walmart store Thursday, Nov. 2, 2017, in Thornton, Colo. Marlena Fobb and her husband, Jason, were inside the store Wednesday night when a man walked … more
Photo: David Zalubowski, AP
Spokesman Blaine Nickerson says he was well-known and respected on campus.
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11:15 a.m.
Neighbors of the man suspected of fatally shooting three people at a suburban Denver Walmart say he was unfriendly and occasionally hostile toward them.
Gerald Burnett says he was sitting on the stairs drinking coffee one morning at his garden-style apartment building in Thornton when Scott Ostrem came down the outdoor stairway. He says Ostrem told him to move and cursed at him.
Teresa Muniz (MUHN’-is) says Ostrem never returned her greetings and once or twice swore at people for sitting in the stairways or leaving laundry in communal machines.
She says she sometimes saw him carrying a bow and set of arrows or a shotgun into or out of his apartment.
She says most people in the building know one another but she never even knew Ostrem’s name until now.
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10:40 a.m.
Police say a man suspected of fatally shooting three people inside a Colorado Walmart has a minor criminal record.
Thornton police spokesman Victor Avila said Thursday that 47-year-old Scott Ostrem had a minor criminal history, but Avila didn’t elaborate.
Court records show a resisting arrest charge against Ostrem was dismissed in 1999.
Court records also show Ostrem filed for Chapter 7 bankruptcy in 2015.
Ostrem was arrested Thursday, about 14 hours after the shooting inside a Walmart in the Denver suburb of Thornton.
Two men died inside the Walmart, and a woman died later at a hospital.
A motive for the shooting was unknown.
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9:45 a.m.
Police say a man suspected of fatally shooting three people inside a suburban Denver Walmart tried to flee officers in his car but was blocked by traffic.
Thornton police spokesman Victor Avila said Thursday that 47-year-old Scott Ostrem was arrested without incident after a brief chase that started near an apartment about 5 miles (8 kilometers) from the Walmart store.
Avila says police went to the apartment and didn’t find Ostrem. But they got an anonymous tip that he was driving in the area and spotted him.
Police took Ostrem into custody after his car was blocked by traffic at an intersection. Avila declined to say if Ostrem was armed.
He says a motive for the shooting is unknown.
Two men died inside the Walmart, which is about 10 miles (16 kilometers) north of Denver in a busy shopping center. A woman died later at a hospital.
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This story has been corrected to show that the tip was that the suspect was driving a car in the area.
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9:20 a.m.
Police say a man suspected of fatally shooting three people inside a suburban Denver Walmart tried to flee officers in his car but was blocked by traffic.
Thornton police spokesman Victor Avila said Thursday that 47-year-old Scott Ostrem was arrested without incident after a brief chase that started at a Thornton apartment.
Avila says police received an anonymous tip that led them to the apartment, which is about 5 miles (8 kilometers) from the Walmart store where the shooting took place late Wednesday.
Police took Ostrem into custody after his car was blocked by traffic at an intersection. Avila declined to say if Ostrem was armed.
He says a motive for the shooting is unknown.
Two men died inside the Walmart, which is about 10 miles (16 kilometers) north of Denver in a busy shopping center. A woman died later at a hospital.
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8:20 a.m.
Police say they’ve arrested a man suspected of walking into a suburban Denver Walmart and immediately opening fire with a handgun, killing two men and a woman Wednesday night.
Thornton police say 47-year-old Scott Ostrem was arrested Thursday morning, about 14 hours after he fled the store in a car. Authorities used security video to help identify him.
Thornton police spokesman Victor Avila said Wednesday night that the shooting appears random and there are no indications that it was an act of terror.
He says the motive is unknown.
Two men died inside the Walmart, which is about 10 miles (16 kilometers) north of Denver in a busy shopping center. The woman died later at a hospital.
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6:58 a.m.
Colorado authorities have identified a man who police say nonchalantly walked into a Walmart and immediately opened fire, killing two men and a woman Wednesday night.
Thornton police are searching for 47-year-old Scott Ostrem, who they say fled in a car before officers arrived. Authorities used security video to help identify the suspect.
Thornton police spokesman Victor Avila says the shooting appears to be random and there are no indications that it was an act of terror.
Customers and employees hid or fled toward the exits after gunshots rang out in Thornton, a suburb of Denver. Avila says he doesn’t know how many rounds were fired.
Two men died at the store, and the woman died at a hospital. Authorities did not immediately release any other information about the victims.
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11:53 p.m.
Colorado authorities are searching for a man who police say nonchalantly walked into a Walmart and immediately opened fire, killing two men and a woman Wednesday night.
Thornton police spokesman Victor Avila says the shooting appears to be random and there are no indications that it was an act of terror.
Customers and employees hid or fled toward the exits after gunshots rang out in Thornton, which is a suburb of Denver. Avila says he doesn’t know how many rounds were fired.
Authorities are reviewing security video to identify the suspect, who fled in a car before officers arrived.
Two men died at the store, and the woman died at a hospital. Authorities did not immediately release any other information about the victims.