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Qualcomm will have a key vote or influence the future of the Qualcomm Corp  (2018/3/6 14:50:33)
Qualcomm will have a key vote or influence the future of the Qualcomm Corp
2018-03-05 label: high pass network and communication acquisition source: global network

The Wall Street journal published an article today saying Qualcomm Corp shareholders will vote on Tuesday to decide whether to support the candidates nominated by Broadcom Corp. The results of this vote may have a direct impact on the future of Qualcomm.


On Tuesday, Qualcomm will hold a vote of the board of directors. Before that, he said that he would buy Qualcomm Corp for 117 billion dollars. If he nominated 6 directors at the conference on Tuesday, then the probability of Broadcom's acquisition of Qualcomm will be greatly increased. Therefore, both Bo Tong and high Qualcomm are seeking the support of high Qualcomm shareholders for their respective candidates.

 


In a letter to shareholders in March 1st, the board of directors of Qualcomm wrote that in the next few days, Qualcomm shareholders will make an important decision, which is very important for shareholders in the direction of Qualcomm investment and Qualcomm's future.

 


Qualcomm also said in the letter, a takeover offer both Broadcom per adjusted $79 or $82, have seriously underestimated the value of the share of Qualcomm, an initial bid of $70, does not have the basis of negotiation, they refused to offer a Broadcom, the board of directors is not unilateral but to make a decision, after consulting with the external financial and legal advisors.

 


Qualcomm believes that waiting for a substantial improvement of the offer is the best choice for the interests of shareholders, after a takeover bid refused to share Broadcom $82, they also tried with Broadcom on the purchase price supervision and other problems have been in contact, in February 14th and February 23rd were two and contact, but in these two times the contact, Broadcom refused to sincerely share participation, insisted that its offer of $82 in February 5th is the final and most suitable.

 


In the letter to shareholders, Gao Tong urged shareholders to continue to support the 11 members of the board of Qualcomm and vote for them in the election of the board of directors, so that they could be re elected to protect the interests of shareholders.

 


而向高通发出了收购要约、被拒绝之后仍在尝试收购高通的博通,也在寻求高通股东的支持,其日前也发出一份声明,希望他们支持博通提名的六位董事候选人进入高通董事会。

 


"As the annual shareholders' meeting in March 6th is approaching, we hope to vote for the six candidates nominated by Bo Tong," he said. It is very important to give you a valuable vote as soon as possible to support our offer, no matter how much you hold. "

 


And shareholders do have disagreements about Bo Tong's purchase of Qualcomm. Investment company ValueWorks holds about 5% of Qualcomm shares, and its portfolio manager, Charles Remontis, believes high Qualcomm is still bright. He was worried that it would drive sustained growth at the expense of M & A targets.

 


However, some high Qualcomm investors are tired of waiting for stock returns. Tom Helchi of P.R. Herzig &Co, an investment company, supported Bo Tong's takeover proposal, which holds about 2.5% of high Qualcomm stocks. Helch Xi said, the deal will give him more than 20% return.

 


Jeru Bruni, President of JV Bruni &Co, said that Bon's offer was too low. However, he believes the high Qualcomm board needs to be reorganized to vote for some of the nominees nominated by the board, but it will not give a majority of seats.

 


This showdown is not only the conflict between Qualcomm and Broadcom in reaching the biggest technology transaction in history, but also has different plans for the future direction of Qualcomm Corp. And how exactly the vote tomorrow we can make nothing of it, let us wait for tomorrow.

 
 
 

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