It's not a done deal, however.
Broadcom also said that it's offer stands regardless of whether the NXP deal goes through or is terminated.More news: Ryan Fitzpatrick to start Week 10 for Buccaneers
"Our proposal provides Qualcomm stockholders with a substantial and immediate premium in cash for their shares, as well as the opportunity to participate in the upside potential of the combined company", said Hock Tan, president and chief executive officer of Broadcom.
It was not clear who Broadcom was referring to, but Apple is Qualcomm's biggest customer. The proposed transaction is valued at approximately $130 billion on a pro forma basis, including $25 billion of net debt, giving effect to Qualcomm's pending acquisition of NXP on its now disclosed terms.
Shares of Qualcomm rose about 1 percent in early trading.
Broadcom said BofA Merrill Lynch, Citi, Deutsche Bank, JP Morgan and Morgan Stanley have advised that they are confident that they will be able to arrange the necessary financing for the proposed transaction. Jeffrey Henderson, another Qualcomm board director, was added previous year as a compromise candidate.More news: Wizards vs. Raptors NBA Predictions Against the Spread 11/5/17
A year ago, the company entered a $5.5 billion agreement to merge with USA network provider Brocade Communications Systems, but that has been delayed while it's scrutinized by the Committee on Foreign Investment in the United States.
Broadcom had $5.25 billion in cash and cash equivalent as of July 30.
Broadcom's proposal was unanimously approved by its Board of Directors.
Industry analysts believe that if Apple does not challenge the deal, it's one hurdle that Broadcom will have cleared.More news: Trump campaign aide Cater Page met Russian officials in 2016
Broadcom plans to move its headquarters exclusively to the United States, which would allow it to avoid review by the Committee on Foreign Investment in the United States, which reviews foreign ownership of US assets.
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