Qualcomm shares surge 13% on talk of $100 billion takeover by Broadcom

  • Broadcom is looking at acquiring Qualcomm, sources said.
  • A bid could be for around $70 a share, they said.
  • The company plans to make a bid for Qualcomm as early as this weekend, Dow Jones reported.

Broadcom is looking into an unsolicited bid to acquire Qualcomm for more than $100 billion, according to sources.

Broadcom is talking with advisors about a potential deal, which would be the biggest ever takeover of a chipmaker.

Bloomberg News first reported the deal, saying an unsolicited bid could be for around $70 a share. That would give Qualcomm a market value of $103.2 billion. The deal price was later confirmed by sources of CNBC.

Dow Jones reported Broadcom plans to make a bid for Qualcomm as early as this weekend.

Shares of Broadcom closed up 5.5 percent Friday after the report, while Qualcomm's stock surged 12.7 percent.

Broadcom did not immediately respond to a request for comment. A spokesperson for Qualcomm had no comment.

WATCH: Will Broadcom really make a bid for Qualcomm?