Broadcom spikes 17% on reported buyout talks

Broadcom shares spiked more than 14% on Wednesday afternoon on a report by the Wall Street Journal that it is in talks to be bought by Avago.

Broadcom, a semiconductor company, has a market cap of $US31.08 billion.

According to the Journal, the terms of the deal are not yet clear, and it’s not certain whether an agreement will be finalised.

More to come …

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