Qualcomm board rejects Broadcom, Silver Lake director nominees

U.S. experts resign from monitoring China’s ZTE Corp: sources
December 22, 2017
CNN to end daily Snapchat show ‘The Update’ from 2018
December 22, 2017
This post was originally published on this site

(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.

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