Broadcom plans to nominate 11 members to Qualcomm's board

(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.

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.