Qualcomm Board Rejects Broadcom’s Director Nominees

Qualcomm Incorporated (“Qualcomm” or the “Company”) today announced that the Qualcomm Board of Directors, following the recommendation of the Board’s Governance Committee, has unanimously determined not to nominate any of the 11 candidates assembled by Broadcom Limited (NASDAQ: AVGO) and Silver Lake Partners to replace Qualcomm’s current directors at Qualcomm’s 2018 Annual Meeting of Stockholders. …

Broadcom Pressures Qualcomm with Nomination of 11 New Directors

Broadcom Limited (NASDAQ: AVGO) (“Broadcom”) today announced that it has notified Qualcomm Incorporated (NASDAQ: QCOM) (“Qualcomm”) of its intention to nominate a slate of 11 independent, highly qualified individuals for election to Qualcomm’s Board of Directors and to propose certain other matters for the consideration of Qualcomm stockholders at Qualcomm’s 2018 Annual Meeting of Stockholders. Broadcom intends to file with the Securities and Exchange Commission a proxy…

NXP: Imagine a Future Without Qualcomm

NXP Semiconductors N.V. needs a Plan B and maybe even Plans C and D. Broadcom Ltd.’s unwelcomed $130 billion offer for Qualcomm Inc. has thrown NXP’s plans of being absorbed by the American chipmaker into disarray. To avoid damages to its operations, NXP should develop an alternate growth strategy and start sharing this immediately with…

High-Tech M&A: No Price Too High, No Firm Too Big

The consolidation of the semiconductor sector has moved into a new phase involving mega transactions that may trigger similarly large acquisitions in other segments of the electronics market and further the redrawing of the industry supply chain as OEMs, contract manufacturers and component distributors re-align with the new power centers. IC market consolidators had been…

Qualcomm Rejects Broadcom’s Unsolicited Proposal

Qualcomm Incorporated (NASDAQ: QCOM) (“Qualcomm” or the “Company”) today announced that its Board of Directors unanimously rejected the unsolicited proposal announced by Broadcom Limited (“Broadcom”) on November 6, 2017. “It is the Board’s unanimous belief that Broadcom’s proposal significantly undervalues Qualcomm relative to the Company’s leadership position in mobile technology and our future growth prospects,” said Paul…

Broadcom Makes Offer to Buy Qualcomm for $130B

Broadcom Limited (NASDAQ: AVGO) (“Broadcom”), a leading semiconductor device supplier to the wired, wireless, enterprise storage, and industrial end markets, today announced a proposal to acquire all of the outstanding shares of Qualcomm Incorporated (NASDAQ: QCOM) (“Qualcomm”) for per share consideration of $70.00 in cash and stock. Under Broadcom’s proposal, the $70.00 per share to be received by Qualcomm stockholders would consist of $60.00 in cash and $10.00 per share…

Qualcomm to Appeal Taiwan FTC Decision

Qualcomm (Nasdaq: QCOM) today announced that the Taiwan Fair Trade Commission (TFTC) has reached a decision in the TFTC’s investigation, stating in a press release that certain of the Company’s business practices are in violation of Taiwanese competition law and imposing a fine of approximately $23.4 billion Taiwan dollars (approximately $773 million US dollars at…

Report: Anti-Counterfeit Efforts Don’t Thwart Cyber-Threats

The defense industry’s concerns regarding microelectronics is expanding beyond counterfeit components and into the realm of cybersecurity, according to a report issued this month by the Defense Science Board Task Force. Thanks in part to the defense department’s reliance on commercial electronics components, the task force found defense equipment can be susceptible to cyber attacks…

TTI’s Gallagher on Distribution: ‘You have to Adapt’

Over the past few months the complexion of the electronics distribution industry has radically changed. Qualcomm’s acquisition of NXP has marked the largest supplier merger to date; and distributor Avnet Inc. sold off its systems business and acquired catalog competitor Premier Farnell. Although those two events don’t directly impact leading IP&E distributor TTI, Inc., this…