Qualcomm board rejects Broadcom, Silver Lake director nominees

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(Reuters) – Qualcomm Inc said on Friday its board unanimously determined not to nominate any of the 11 candidates picked by Broadcom Ltd and Silver Lake Partners to replace the chipmaker’s current directors.

Earlier this month, Broadcom made its first formal move toward a hostile bid to take over Qualcomm, laying out a slate of 11 nominees it wants to put on the board of the U.S. semiconductor firm.

Reuters previously reported that private equity firm Silver Lake, an investor in Broadcom, helped Broadcom recruit the nominees.