Qualcomm Urges Stockholders To Re-elect Its Board

(RTTNews) - Qualcomm Inc. (QCOM) said it urged its stockholders to re-elect its Board to prevent a Broadcom takeover which dramatically undervalues the company and has substantial regulatory risk. It said Broadcom proposal increased significant regulatory and national security risks compounded by customer opposition.

Qualcomm sent a letter to its stockholders in connection with its 2018 Annual Meeting of Stockholders, which will be held on March 6, 2018. Stockholders of record on January 8, 2018 will be entitled to vote at the meeting.

Qualcomm believed electing Broadcom's nominees makes no sense for Qualcomm stockholders and puts the company at risk of significant value loss in the likely case the deal is not approved.