Broad­com now seek­ing fewer Qual­comm seats

The Palm Beach Post - - BUSINESS -

Broad­com moved the goal posts in its hos­tile takeover bid for Qual­comm, an­nounc­ing that it was now seek­ing only a ma­jor­ity of the chip maker’s board seats in next month’s share­holder vote and rais­ing ques­tions about the fu­ture of the deal.

Whether the shift will be enough to ad­vance the deal in the face of Qual­comm’s heated re­sis­tance to a takeover is un­clear. Qual­comm share­hold­ers vote on the board March 6.

The chip com­pany last week re­jected Broad­com’s lat­est takeover bid, val­ued at about $121 bil­lion, ar­gu­ing that it was still too low.

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