UPDATE 2-Broadcom unveils 11-nominee slate for Qualcomm board [Reuters (UK)]
Broadcom Inc. (AVGO)
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Source: Reuters
Broadcom unveils 11-nominee slate for Qualcomm board | Reuters Reuters Staff 3 Min Read (Reuters) - Chipmaker Broadcom Ltd ( AVGO.O ) took its first formal step toward a hostile bid to take over Qualcomm Inc ( QCOM.O ) on Monday, unveiling a slate of 11 nominees to the board of the U.S. semiconductor firm. Qualcomm confirmed receiving the list, saying Broadcom’s action was a “blatant attempt to seize control of the Qualcomm board in order to advance Broadcom’s acquisition agenda.” Qualcomm rejected Broadcom’s $103 billion cash-and-stock bid last month. Qualcomm shareholders will be able to vote on Broadcom’s board slate at an annual meeting on March 6. Broadcom’s list of nine men and two women included a former president of the mobile networks business group of Nokia and the former director and chairman of the board of Dialog Semiconductor Plc ( DLGS.DE ). “We have heard from many Qualcomm stockholders who have expressed their desire for Qualcomm to engage with us,” Broadcom Chi
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