Joele Frank
Joele Frank

Joele Frank, Wilkinson Brimmer Katcher is working Broadcom's $130B offer for semiconductor rival Qualcomm in a deal that, if completed, would create a "one-stop shop for smartphone companies," according to the Financial Times.

The $70 a share cash/stock deal represents a 28 percent premium over Qualcomm's Nov. 2 closing stock price just prior to media speculation about the offer.

Broadcom CEO Hock Tan said the combined company would be a communications leader "positioned to deliver more advanced semiconductor solutions for our global customers and drive enhanced shareholder value."

Qualcomm has acknowledged receipt of the "non-binding, unsolicited proposal" and will assess the offer.

It noted significant opportunities already exist to "drive substantial additional value for its shareholders as its technology and product roadmap move into new industries."

Joele Frank, Steve Frankel and Andi Rose handle media surrounding Broadcom's bid.