Bo Tong is expected to master the majority of the high Qualcomm board or promote the acquisition of high Qualcomm
According to Bloomberg news, despite being intervened by the US regulators, Broadcom is still determined to win 6 seats in the board of Qualcomm, so that it can grasp the majority of the board of Qualcomm board and promote the acquisition of Qualcomm.
Reuters mastered the information that more than half of the vote has already been obtained, making it possible for them to win the majority of the high Qualcomm board. If the votes are still available at the time of final vote, they will be able to overturn the opposition attitude of Qualcomm management and complete the acquisition of Qualcomm at the price of 117 billion US dollars. At present, representatives of both Bo Tong and high Qualcomm have refused to comment on the news.
The attitude of the two companies at the moment is quite opposite, and Qualcomm's board and management believe that Bo tried to buy Qualcomm at a lower price. Qualcomm investors had planned to meet with this Tuesday to discuss the offer of buyon, but this meeting was postponed for 30 days by the CFIUS. For the CFIUS survey, the two companies are all accusing each other.
Qualcomm refused to accept the nominee of the board of directors and asserted that his continued operation could lead to better results. All the nominees are required to represent the interests of high Qualcomm and shareholders. So far, CEO Chen Fuyang (Hock Tan) seems to have been supported by investors. It is Chen Fuyang that has built a series of acquisitions now.
The data obtained by Bloomberg show that the number of votes obtained by Qualcomm CEO Steve Molenkov (Steve Mollenkopf) in the 17 candidates nominated by both sides is the last second. That means he might lose his seat. Paul Jacobs (Paul Jacobs), the son of the Qualcomm Corp founder and the high Qualcomm chairman, is also facing the risk of being replaced.
Data show that Qualcomm has about 1 billion 400 million shares at present, and 4 of the candidates nominated by pass have exceeded 500 million votes, and the other two have gained nearly 150 million votes, but still are leading the other Qualcomm candidates.
According to sources close to the matter, at present, Qualcomm's institutional investors hold a large number of shares, but these institutional investors have not yet voted. But it is important to note that the shareholders can change their vote at any time before the discussion begins. According to a person who knows investor action, T. Rowe Price Group Inc. previously voted his own ticket to the board member of the nominated board of directors.
