1. Intel intends to acquire Taiwan Semiconductor Manufacturing Co., Ltd. to have trouble to MediaTek;
In the micro-message news, Intel came up with considering the acquisition of Broadcom, and may win Qualcomm by chance. If it comes true, it may not be favorable for Taiwan's semiconductor supply chain. TSMC may face a huge threat.
The global semiconductor industry has been consolidated and it should have been the old god for TSMC, because apart from Intel and Samsung, almost all of the major chip makers in the world are TSMC customers. No matter how they are, they need TSMC's foundry firepower. Aoyuan. The only thing that Intel reportedly intends to take will be the worst result for TSMC.
Broadcom and Qualcomm were both major and important customers of TSMC. The merger of the two companies is now underway. The sudden emergence of Intel has caused great challenges to TSMC in the future.
Unlike Broadcom, Qualcomm is a "Fabless." It is only engaged in wafer design. Downstream OEMs, packaging, and testing are all outsourced. But Intel is IDM (integrated component manufacturer), all vertical integration packages, not too Need to rely on outside resources. Assume that Intel's acquisition is successful. For Taiwan Semiconductor Manufacturing Co., Ltd., UMC; and packaging and testing plant Riyueguang, silicon products, will be a major bearish.
In particular, in recent years, Intel has been stagnating due to the traditional PC chip market growth. It has actively released excess wafer manufacturing capacity. It has expanded into the foundry market and played against Taiwan Semiconductor Manufacturing Co., Ltd. Both parties competed on the market value of the company regardless of process technology advancement. At the top, the competition is fierce. In the event of Intel’s unification, TSMC bears the brunt.
Intel is actively expanding its foundry power. It is said that the chairman of Taiwan Semiconductor Manufacturing Co., Ltd., Zhang Zhongcheng, has been hailed as a "two gorillas (meaning heavy opponents that cannot be underestimated)" with Samsung, and it is reported that it intends to acquire Broadcom, even Taking advantage of Qualcomm into the territory, it is expected to take advantage of Broadcom and Qualcomm's foundry orders, which poses a great challenge to TSMC's future orders.
As for MediaTek, there may be opportunities to “get rich.” After Intel ate Broadcom, Qualcomm will become a superpower, and end customers like Apple may have scruples. To avoid having eggs in the same basket, they may have More orders will flow to MediaTek.
However, Intel’s resources are huge, regardless of process, technology, and funding. In particular, after integrating Broadcom and Qualcomm, they will further strengthen the relevant communication energy. If Intel gives support for wafer foundry prices that are lower than the industry’s prices, it will reduce the cost of Qualcomm and MediaTek There will be hard fights to fight.
2. Intel M & Broadcom: Spoiler composition;
It was shocked that Intel considered bidding to acquire Broadcom as a countermeasure against Broadcom's possible purchase of Qualcomm, but based on the scale of these three semiconductor companies is very large, such a huge merger and acquisition case is bound to arouse concern of the regulatory authorities, the probability of a real success is not high.
It is estimated that if Intel is to accept Broadcom’s net debt, Intel will have to pay a price of about US$140 billion. This will increase Intel’s debt. Whether shareholders can obtain support will be in doubt.
Such a huge deal will surely cause anti-Trusts authorities to pay close attention from all angles. There are many overlaps between Intel and Broadcom's product lines. Any trades that want to cross the border must be sold on the premise that they must be sold.
In the face of these obstacles, is Intel willing to spend a fortune on this step? It is doubtful. Not only did Intel downplay this possibility, but it only took the words “not to comment on rumours or speculations” and “to focus on integrating previous acquisitions.” Even the person familiar with the Wall Street Journal confessed that Intel is not likely to come true.
The most likely scenario is: Intel just wants to stir up. Qualcomm is Intel's market competitor, releasing Intel’s desire to acquire Broadcom may be enough to undermine the good news of Broadcom’s marriage with Qualcomm.
3. Intel swallowed Broadcom + Qualcomm? It seems unlikely;
It was shocked that Intel considered bidding to acquire Broadcom as a countermeasure against Broadcom's possible purchase of Qualcomm, but based on the scale of the three semiconductor companies is very large, such a huge merger and acquisition case is bound to arouse concern of the regulatory authorities, the probability of a real success is not high.
Bocom, which is headquartered in Singapore, had a market value of US$104 billion at the close of the market on the 9th. Qualcomm’s market value is also close to this number. If the market value of US$244 billion closed on the 9th day, it really wants to acquire Broadcom. Whether it is before or after Broadcom’s acquisition of Qualcomm. It may be one of the largest corporate mergers and acquisitions in history. It is estimated that if Intel is to accept Broadcom’s net debt, Intel will have to pay a price of about US$140 billion. This will increase Intel’s debt. Can it win shareholder support? doubt.
Such a huge transaction will surely cause the anti-Trojans authorities to pay close attention from all angles. There are many overlaps between Intel and Broadcom product lines, including Ethernet switch and controller chips, and Ethernet adapters. , Wi-Fi chips and solid-state drive (SSD) control chips, any trades want to pass, provided that the assets must be sold.
In the face of these obstacles, is Intel willing to spend a lot of time in this chapter? It is doubtful. Not only does Intel itself downplay this possibility, it only uses the phrase “not to comment on rumors or speculations,” and “to focus on integrating previous acquisitions.” However, even the insider quoted in the Wall Street Journal admits that Intel’s “unlikely” has come true.
The most likely scenario is: Intel just wants to stir up. Qualcomm is Intel's market competitor, releasing Intel’s desire to acquire Broadcom may be enough to undermine the good news of Broadcom’s marriage with Qualcomm.
4. Double force, Intel or Cardinals behind
The Wall Street Journal reported on the 9th that Intel Corporation is said to consider multiple acquisition plan options, including the possibility of bidding for Broadcom to host Broadcom's hostile takeover of Qualcomm. Intel said that it is currently focusing on integrating assets previously merged into its subsidiary, diluting this rumor. .
Informed sources disclosed to the Wall Street Journal that Intel is paying close attention to the development of the “Dual-Link” M&A wrestling warfare and tends to hope Broadcom’s acquisition failure, because the combination of the two may pose a major competitive threat. However, if Broadcom’s prevailing situation is clear, Intel may be Proposed to acquire Broadcom, staged the "Dr.
Informed sources said that Intel had conceived this move as early as last year, and is still advising on the advisory sandbox. One source said that the probability of Intel’s last real shot is not high. After all, this kind of consolidation is both vast and complex. Engineering. Broadcom currently has a market capitalization of about US$104 billion. Another source said that Intel may eventually decide to proceed with smaller acquisitions.
In response to media verification, Intel issued a statement on the 9th that it declined to comment on “rumors or speculations” and stressed that it is focusing on past acquisitions. The statement stated: “The company has had major acquisitions in the past 30 months, including Mobileye. And Altera, our focus is on integrating these acquisitions so that they bring greater value to customers and shareholders." Intel acquired mobile technology company Mobileye last year and also acquired programmable logic chip maker Altera in late 2015.