Tuesday, 6 March 2018

Amid 30-day delay on Qualcomm's stockholder vote, Broadcom might have to pull its bid

Today, Qualcomm stockholders were supposed to vote on the make up of the company's Board of Directors. With 11 seats on the Board, Broadcom lobbed in a slate of 6 candidates, hoping that it could win control of Qualcomm and rubber stamp Broadcom's $117 billion bid for the Snapdragon chip designer. But some other news has come out that might force Broadcom to put the kibosh on its bid for now, and try again at another time.

The U.S. Treasury's Committee on Foreign Investment in the United States (CFIUS) sent a letter to two Broadcom lawyers on Monday, outlining some issues it had with the ...

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