After the talks in New York, Qualcomm said in a statement: 'Earlier today, we had two hours of talks with Broadcom representatives and listened carefully to their opinions. Qualcomm's board of directors will meet promptly to discuss the talks Results, and determine the next step. '
Sources close to Broadcom said that although Qualcomm listened to the opinions, there was no interaction with Broadcom.
Last week, Qualcomm's board of directors rejected Broadcom's 'best-of-breed' deal, $ 82 a share, which Qualcomm believes is still too low. The company agreed to meet Broadcom CEO Chen Fuyang but said Broadcom needs to be raised Bidding, and better ensure that the transaction can be approved within a reasonable time regulatory authorities.Chen Fuyang responded that the latest bid is he can offer the highest bid.The two sides will be March 6 Qualcomm shareholders conference showdown, Broadcom appeal Qualcomm investors elected the board of directors of the company nominated to facilitate the completion of the transaction.
If you fail to win the support of Qualcomm's board of directors or shareholders, then Chen Fuyang will be an uncommon setback, through a series of transactions, he has made Broadcom into the $ 380 billion semiconductor industry, one of the largest companies by acquiring the market's largest Qualcomm, a maker of smart phone chips, Broadcom will gain unprecedented impact in the field of contemporary communications system components.
Including chairman and CEO Paul Jacobs and CEO Steve Mollenkopf, Qualcomm's board of directors hopes to market market-leading mobile chip technologies to new areas such as servers, PCs and cars. Chen Fuyang believes that such an expansion plan is unrealistic, the industry is changing, the growth rate is slowing down.
At this meeting, Chen Fuyang did not see all the members of Qualcomm's board of directors, representatives of Qualcomm include Jacopo, Molenkov, Tom Horton, and the other three members of the Qualcomm management team only Huo While Dayton is an independent director, others are Qualcomm's longtime executives who uphold Qualcomm's current strategy and plan to operate as independent companies.
Qualcomm believes the company's future looks bright, but it's hard to believe in the past two years, and Qualcomm's technology licensing business is facing a challenge that has become a core issue for Qualcomm.