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Broadcom just offered to buy Qualcomm in what would be tech’s largest-ever takeover

Broadcom is serious about taking over Qualcomm. The Irvine, California, chipmaker just offered to buy its rival for $70 a share in a cash and stock deal valued at $130 billion. The acquisition–if Qualcomm accepts without a fight–would be the largest tech takeover in history, and would reshape the dynamics of the industry. The combined companies would make Broadcom the world’s third-largest chipmaker behind Intel and Samsung, but there’s a good possibility Qualcomm will rebuff the unsolicited bid, Bloomberg reports. Rumors of the proposed takeover broke on Friday, sending Qualcomm’s stock up 13%. Check out the full announcement here.

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