Broadcom Now Seeks Six Seats on Qualcomm Board, Would Retain Majority Control

Date : 02/13/2018 @ 9:37AM
Source : Dow Jones News
Stock : Qualcomm Incorporated (QCOM)
Quote : 66.12  0.0 (0.00%) @ 5:53AM
Qualcomm Incorporated share price Chart

Broadcom Now Seeks Six Seats on Qualcomm Board, Would Retain Majority Control

Qualcomm Incorporated (NASDAQ:QCOM)
Historical Stock Chart

1 Year : From Oct 2017 to Oct 2018

Click Here for more Qualcomm Incorporated Charts.
By Bowdeya Tweh 

Broadcom Ltd. said Tuesday it will nominate six independent directors to Qualcomm Inc.'s board, down from its prior target of 11, as it pleads its case with shareholders to move forward a $121 billion takeover bid that has been rebuffed by Qualcomm leaders.

The plan comes ahead of Qualcomm's March 6 annual meeting, and one day after Broadcom said it had lined up as much as $100 billion of debt financing to help acquire Qualcomm.

On Tuesday, Broadcom said it would withdraw the $82-a-share offer after the annual meeting if its six nominees aren't elected or if Qualcomm continues to reject the proposal.

The company in December said it wanted to nominate 11 new independent directors for election.

Broadcom Chief Executive Hock Tan said in prepared remarks the company has heard from Qualcomm shareholders who support its proposal and willingness to provide continuity on the board.

Broadcom's nominees for Qualcomm's board are Samih Elhage, David Golden, Veronica Hagen, Julie Hill, John Kispert and Harry You.

Write to Bowdeya Tweh at


(END) Dow Jones Newswires

February 13, 2018 09:22 ET (14:22 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest QCOM Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:41 V:us D:20181023 10:25:31