Qualcomm shareholders re-elect board

Qualcomm’s investors re-elected the chipmaker’s board at a shareholders meeting that would have been dramatically different had the largest proposed acquisition in technology industry history not been stopped.

Ten directors, including Chief Executive Officer Steve Mollenkopf, were elected unopposed Friday at a meeting in San Diego rescheduled in the midst of Qualcomm’s successful four-month effort to fight off a hostile takeover by Broadcom.

The world’s largest maker of chips for mobile phones is struggling with the fallout from the proposed acquisition, which was blocked earlier this month by an executive order from President Donald Trump, citing security concerns. Singapore-based Broadcom appeared ready to seize control of the board and overturn Qualcomm’s opposition to its rival’s $117 billion acquisition offer before the White House action.

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