Bruising Qualcomm-Broadcom battle heads for showdown

said braka 9:38 AM
Qualcomm shareholders at an annual gathering Tuesday

will get to vote whether to replace six of the California company's 11 board members with candidates backed by Broadcom, essentially endorsing the deal estimated to be worth $117 billion.
Weeks of parries and thrusts, along with tactical public statements, have left the companies' boards at odds over the unsolicited offer.
Qualcomm's board on Thursday sent a letter to shareholders urging them to re-elect its current members, making a statement against Broadcom's offer.
"The Qualcomm board believes it is not in the best interest of Qualcomm's stockholders to elect Broadcom's nominees," the directors said.
Qualcomm, which is the dominant maker of microprocessors for smartphones, says it has a bright future on its own, especially ahead of a transition to fifth-generation (5G) wireless communications networks.
The Qualcomm board has also expressed concern that any deal with Broadcom could be delayed or blocked by antitrust regulators around the world.


Read more at: https://phys.org/news/2018-03-qualcomm-broadcom-showdown.html#jCp