...NEW YORK (S&P Global Ratings) Nov. 6, 2017--Semiconductor company Broadcom Ltd. announced today a nonbinding unsolicited offer to acquire Qualcomm Inc. in a transaction valued at approximately $130 billion, or $70 per share. Under Broadcom's proposal, the offer consists of $60 in cash and $10 in Broadcom shares. The offer stands whether Qualcomm's pending acquisition of NXP Semiconductors N.V. is completed. At this time, it is unclear how the discussions will proceed and how the details of the offer will evolve over the coming weeks. The combined company, including NXP, will have fiscal 2017 revenue of roughly $50 billion and EBITDA of about $19 billion, excluding synergies. The proposed acquisition will add substantial scale, increase Broadcom's exposure in wireless, and increase its customer concentration. Additionally, the transaction will add a considerable amount of debt to the company's balance sheet and will increase leverage materially from about 1.3x as of July 31, 2017. As for...
