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REFILE-Broadcom plans to nominate 11 members to Qualcomm's board
December 4, 2017 / 12:19 PM / 11 days ago

REFILE-Broadcom plans to nominate 11 members to Qualcomm's board

(Refiles to remove URGENT tag from headline)

Dec 4 (Reuters) - Chipmaker Broadcom Ltd said on Monday it planned to nominate a slate of 11 independent members to the board of U.S. semiconductor firm Qualcomm Inc.

Broadcom’s move comes after Qualcomm rejected its $103 billion cash-and-stock bid last month.

Reuters reported on Sunday that Broadcom would take its first formal step on Monday toward a hostile bid to take over Qualcomm by unveiling a plan to nominate board members, according to people familiar with the matter. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Martina D‘Couto)

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