Report: Broadcom considering a bid for Qualcomm

President Donald Trump hugs Broadcom CEO Hock Tan during an event to announce the company is moving its global headquarters to the United States Photo: Evan Vucci / AP

Broadcom is considering a bid for Qualcomm, Bloomberg reported Friday, in what would be the biggest ever takeover in the semiconductor industry.

The context: Broadcom announced yesterday it is moving its headquarters back to the U.S. Qualcomm, known for its cell phone chips, is engaged in a bitter legal dispute with Apple, one of its key customers. After a big gain this year, Broadcom's stock is now more valuable than Qualcomm's, which has dropped 15 percent.