Alphawave IP surges as Qualcomm says it's considering takeover offer

(Sharecast News) - Alphawave IP surged on Tuesday after Qualcomm confirmed that it is considering making an offer for the company. In a very brief statement, the US chipmaker said there can no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

Under takeover rules, Qualcomm has until the end of play on 29 April to either announce a firm intention to make an offer or walk away.

"A further announcement will be made if and when appropriate," it said.

At 1410 BST, Alphawave shares were up 44% at 134.50p.

The news came just hours after Reuters reported that SoftBank-owned chip tech provider Arm Holdings recently sought to acquire Alphawave.