A building on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake
SAN FRANCISCO: Qualcomm Inc shareholders think Broadcom Ltd is trying to buy their company for a steal. They’re so weary they might let it happen anyway.
A shareholder vote on March 6 will help decide the fate of Broadcom’s US$117bil hostile bid. The aggressor needs all six of its director nominees approved by Qualcomm investors to take control of a board that’s so far shunned its approaches. Broadcom is offering US$79 a share in cash and stock, 25% above Qualcomm’s last Friday closing share price of US$63.32.
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