Broadcom plans to nominate 11 members to Qualcomm’s board

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Broadcom lists 11 nominees for Qualcomm board
December 4, 2017
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(Reuters) – Chipmaker Broadcom Ltd said on Monday it planned to nominate a slate of 11 independent members to the board of U.S. semiconductor firm Qualcomm Inc.

FILE PHOTO: Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California May 12, 2016. REUTERS/Mike Blake/File Photo

Broadcom’s move comes after Qualcomm rejected its $103 billion cash-and-stock bid last month.

Reuters reported on Sunday that Broadcom would take its first formal step on Monday toward a hostile bid to take over Qualcomm by unveiling a plan to nominate board members, according to people familiar with the matter.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Martina D’Couto

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