Broadcom makes fresh concessions in $121B hostile takeover attempt of Qualcomm

San Jose-based Broadcom this week scaled back its proposed takeover of Qualcomm’s board of directors, saying it will instead try to install six new board members there, rather than 11. “Qualcomm stockholders have consistently communicated to us their support for our $82 per share cash and stock offer,” Broadcom CEO Hock Tan said in a statement. “In addition, they have welcomed our willingness to provide for appropriate continuity on the Qualcomm board, and have also expressed a desire for…

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Broadcom makes fresh concessions in $121B hostile takeover attempt of Qualcomm