It's not a done deal, however.
Any deal between Broadcom and Qualcomm would have to be approved by Antitrust officials, who are still considering Qualcomm's purchase of NXP.
Perhaps the most important new news on the bid is that Qualcomm is expected to reject this deal as it undervalues the company.
"This complementary transaction will position the combined company as a global communications leader with an impressive portfolio of technologies and products", Hock Tan, resident and chief executive officer of Broadcom, said in a statement Monday.
Yes, Broadcom made this landmark bid to acquire one of it's top most rivalries i.e. Qualcomm Inc.
Including debt, the bid values the transaction at $130bn in total.
Broadcom shares rose 1.4 per cent to US$277.52 after touching a record of US$281.80. Broadcom already provides designs for Wi-Fi and Bluetooth chips, and by bringing in Qualcomm it will be able to encompass LTE and 5G capabilities.
Windsor unemployment rate up in October to 6.9%
Additionally, wages rose from the same time past year by 2.4 percent but slowed somewhat from last month. The increase was the result of more people entering the workforce and a decline in employment.
A year ago, the company entered a $5.5 billion agreement to merge with US network provider Brocade Communications Systems, but that has been delayed while it's scrutinized by the Committee on Foreign Investment in the United States.
It has also offered to pick up $25 billion in debt.
Its entire 10-member board is up for re-election this spring, and Broadcom could seize on the December nomination deadline to put forward its own slate that would then help make negotiations.
Two Qualcomm directors, Anthony Vinciquerra and Mark McLaughlin, have been aligned with activist hedge fund Jana Partners LLC, which pushed for a shakeup of the company two years ago.
Qualcomm said it would review the proposal.
Broadcom could spin out Qualcomm's licensing arm, QTL, to get regulatory approval and funding for the deal, Nomura Instinet analyst Romit Shah said.
Tan visited President Trump at the White House last week to announce that Broadcom would be moving its headquarters from Singapore to Delaware.