Qualcomm director candidate nomination deadline is this year's December 8. At present, the Qualcomm board of directors has 11 directors, informed sources, Broadcom director nomination list will be submitted next week.
Broadcom proposed to buy Qualcomm for $ 70 a share in cash and stock on Nov. 6 with a total transaction value of about $ 130 billion and if the deal is completed it will be the largest M & A deal in the semiconductor industry ever.
On November 13, Qualcomm announced that the company's board of directors has rejected the offer made by Broadcom on November 6. Qualcomm executive chairman Paul Jacobs said: "The board of directors agreed that Broadcom's offer was underestimated Qualcomm's value. '
In this regard, Broadcom did not give up.A few hours after Qualcomm issued a statement, Broadcom quickly responded that the company is still committed to the acquisition of Qualcomm, and Broadcom shareholders are very interested in the deal.
Some analysts believe that Broadcom acquisition of Qualcomm is determined to win, so the offer may be raised to 80 US dollars per share or 90 US dollars.
In addition, there are reports that Broadcom is considering raising the purchase price after negotiating with several major shareholders of Qualcomm, specifically, maintaining the cash portion of the purchase price and raising the quotation of the share portion.
At the same time as Boeing raised its offer, Broadcom may also get a seat on the board of directors of Qualcomm by launching a proxy battle to get Qualcomm's board to back the offer.
People familiar with the matter said Broadcom plans to submit Qualcomm director nominees shortly after the nomination of its Qualcomm director candidate on December 8 so that Qualcomm shareholders can elect Broadcom-nominated directors at a shareholders' meeting on March 6, 2018.
Currently, Qualcomm's equity structure is relatively decentralized.In addition, the Qualcomm and Broadcom's top 25 shareholders, there are 17 coincidence, which will also be Broadcom won the proxy battle to provide the opportunity.Of course, even after the pass Qualcomm, The deal also faces regulatory antitrust scrutiny.