Qualcomm said the company currently leads in the areas of mobility, Internet of Things, automotive, edge computing and networking, and Qualcomm shareholders are about to see substantial growth and new value creation as the company continues to execute its business strategy.
Qualcomm also said Broadcom and Silver Lake move is actually asking Qualcomm shareholders to give up the choice of non-binding transactions to make the decision.While considering the regulatory issues, Broadcom lack of determination to solve the problem, Broadcom lack of funds to raise, And the uncertainty surrounding Broadcom's move from Singapore to the United States, the deal will not come true for more than a year.
Qualcomm pointed out that the current board of directors consists of 11 world-class directors, of which nine are independent directors and four are new members in the past three years, all of whom are determined to seek the best interests of Qualcomm shareholders. That the Broadcom move is to grab control of Qualcomm's board of directors, to promote Broadcom's acquisition program.Considering Broadcom's acquisition program has greatly underestimated the value of Qualcomm, is entirely for Broadcom's interests, so these nominations are essentially There is a conflict of interest.
Tom Horton, Qualcomm managing director, said: 'No single player in the industry is in the mobile, IoT, automotive, edge computing and networking industries, and is more than Qualcomm in the evolution of leading 5G Favorable Positions The board of directors for Qualcomm shareholders 'expectations supports innovation while objectively evaluating all opportunities that maximize the value of all Qualcomm shareholders.'
On November 13, 2017, Qualcomm's board of directors unanimously rejected a non-binding proposal by Broadcom, which offered $ 60 in cash and $ 10 in Broadcom shares.After a thorough assessment with financial and legal advisors, Qualcomm's board of directors The conclusion is that Broadcom's acquisition of a serious underestimation of Qualcomm's value of the program, there are also significant regulatory uncertainty, it does not meet the best interests of Qualcomm shareholders.