Report: Qualcomm to receive unsolicited takeover bid from Broadcom as soon as this weekend

According to a report in the WSJ, Qualcomm, currently embroiled in a number of lawsuits with Apple, is apparently about to receive an unsolicited takeover bid from semiconductor designer Broadcom. The deal could be announced as soon as this weekend and is expected to be made up of 80% to 90% cash, with the remainder in stock. Qualcomm's shares soared 12.71% on the rumor, or $6.97, to $61.81. Broadcom's stock also rose on the report, adding $14.13 or 5.45% to $273.63.

Qualcomm is known for its Snapdragon chipsets used to power many smartphones. The company's modem chips have been used by ...