A deal between chipmakers Qualcomm and NXP Semiconductors could be announced as early as next week, according to a report that boosted both companies’ shares.
Bloomberg reported Thursday that negotiations for Qualcomm’s (qcom) potential takeover of NXP (nxpi) were entering the final stretch, citing people familiar with the talks. The sources said the San Diego-based giant was about to complete a review of the Dutch semiconductor manufacturer’s operations and finances.
An announcement could reportedly be expected on Oct. 26 or Nov. 2, when NXP and Qualcomm are respectively scheduled to report their earnings.
Nothing has been signed yet, the sources said, underscoring the tentativeness of an agreement. Qualcomm has in the past begun to negotiate deals that ended up deteriorating, according to Bloomberg. This one wouldn’t be easily forgotten, as it would be the largest deal in the history of the semiconductor industry if approved.
Negotiations between the two chipmakers have put the deal price somewhere between $110 and $120 per NXP share in a potential all-cash sale, the report said.
Shares of both Qualcomm and NXP jumped about 3% and 4% after the report was published on Thursday, according to CNBC.
NXP declined to comment on this story. Qualcomm could not be immediately reached for comment.
This story has been updated.