Broadcom now seeking fewer Qualcomm seats
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.