Deals
Jacobs Is Making Progress in Funding for Qualcomm Bid
- Former chairman left in aftermath of failed Broadcom takeover
- Going private would keep control in hands of founding family
Paul Jacobs
Photographer: Misha Friedman/BloombergThis article is for subscribers only.
Paul Jacobs, the ousted chairman of Qualcomm Inc., is making progress in lining up enough funding to offer to take the chipmaker private, and could make the bid within a few months, according to a person familiar with his plans.
Jacobs, son of the company’s founder and a former chief executive officer, has received commitments giving the process momentum, the person said. He is talking with strategic investors, sovereign wealth funds and wealthy individuals to try to raise the funds and rates his chances of completing the deal at better than 50 percent, said the person, who asked not to be identified because the discussions are private.