Broadcom reports that Broadcom will win most of Qualcomm's board of directors in more than half of its known votes and, if the outcome of the final election remains unchanged, Broadcom will control Qualcomm's board of directors, which will have a significant impact on future acquisitions.
Currently, Qualcomm and Broadcom declined to comment.
Bloomberg data shows that Qualcomm CEO Steve Morrenkov currently receives only the penultimate support from 17 candidates, indicating that he may lose board seats. Chairman of the Board Paul Jacobs Similarly In jeopardy, if the two can not be Qualcomm directors, it will lose the Qualcomm management position in the future board of directors.
Broadcom had previously stressed that it could not control the nomination of six directors, but also no intention to control the Qualcomm board of directors, but for now, Broadcom nominated six directors, four have already had more than 500 million shares, the other two were Nearly 150 million, are leading Qualcomm nominees, Qualcomm outstanding shares of approximately 1.4 billion.
Qualcomm still has a lot of shares in the hands of institutional investors, who have not yet voted, and the shareholders can make changes before the general meeting of shareholders is held.The majority shareholder of Qualcomm, which owns about 2.5% of Qualcomm, is T. Rowe Price Group Candidates for Broadcom nominations are currently selected.