CA Technologies shares surged greater after the closing bell on Wednesday, following a report that chipmaker Broadcom is weighing a bid for the software program firm.

Shares of the New York-based firm jumped greater than 15 per cent greater to $42.99 on the heels of a report from Dow Jones that Broadcom was nearing a deal to purchase the corporate for $44.50 a share, or about $18bn.

The report mentioned deal could possibly be introduced as quickly as Wednesday.

If Broadcom does transfer to snap up CA Applied sciences, it might come simply months after the chipmaker’s efforts to make a hostile takeover of rival Qualcomm had been blocked.

Broadcom shares had been down four.eight per cent.

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