. Military Space News .
INTERNET SPACE
Broadcom moves to unseat Qualcomm board, escalates takeover fight
by Staff Writers
Washington (AFP) Dec 4, 2017


Singapore-based computer chip maker Broadcom stepped up its battle for rival Qualcomm on Monday, proposing a new slate of board members for the US firm to back a $130 billion hostile bid.

Broadcom, which has signaled its plan to reincorporate in the United States, said the effort to replace the Qualcomm board members is aimed at boosting support for its bid to create a semiconductor firm that dominates in the growing field of mobile technology.

The move comes weeks after Qualcomm rejected the unsolicited offer and reaffirmed plans to stay independent.

A Broadcom statement said it would nominate 11 new Qualcomm board members and "propose certain other matters" for consideration at the March 6 annual shareholders meeting.

If successful, a new board of directors at Qualcomm could oust management which has opposed the tie-up.

Broadcom chief executive Hock Tan said he hoped to negotiate an agreement with Qualcomm on what he claimed was a beneficial deal for both companies.

"We have heard from many Qualcomm stockholders who have expressed their desire for Qualcomm to engage with us," Tan said in a statement.

"Although we are taking this step, it remains our strong preference to engage in a constructive dialogue with Qualcomm. We have repeatedly attempted to engage with Qualcomm, and despite stockholder and customer support for the transaction, Qualcomm has ignored those opportunities."

Qualcomm said it remained opposed to the deal.

"Qualcomm believes that this action is a blatant attempt to seize control of the Qualcomm board in order to advance Broadcom's acquisition agenda," said the US firm.

"These nominees are inherently conflicted given Broadcom's desire to acquire Qualcomm in a manner that dramatically undervalues Qualcomm to Broadcom's benefit."

It added that the plan also faces considerable "regulatory issues" and a "lack of committed financing."

If completed the deal would be the largest-ever in the tech sector and create a powerful player in the booming sector fueled by growth in smartphones and an array of connected devices from cars to wearables.

Any merger deal would need to pass muster with Qualcomm shareholders and could face regulatory scrutiny in the United States and other markets.

Qualcomm has been facing a series of antitrust investigations around the world linked to its dominance in the smartphone chip segment and is in litigation with Apple in a dispute over patents and royalties.

Broadcom's November 6 proposal followed Tan's visit to the White House, where he met President Donald Trump and announced plans to move the tech company back to the United States from Singapore.

It also comes as Qualcomm seeks a $47 billion acquisition of Dutch rival NXP, a deal that is the subject of a European Union anti-trust probe.

INTERNET SPACE
BuzzFeed to cut jobs, refocus advertising
Washington (AFP) Nov 29, 2017
BuzzFeed said Wednesday it was cutting an estimated 100 jobs as the news and entertainment website reorganizes its advertising efforts in the face of disappointing revenues. The cuts will be mainly in the business and advertising divisions in the US operations, with a number of editorial and business employees cut in Britain, a spokesman said, confirming an earlier report in the Wall Street ... read more

Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
Lockheed Martin, Romania sign agreement for PAC-3 MSE missile

Russia test-fires new interceptor missile

Saudi Arabia intercepts second Yemen missile in a month

SBIRS GEO Flight 4 Missile Warning Satellite ships for January launch

INTERNET SPACE
Poland to buy AMRAAMs, HIMARS systems from U.S.

Orbital ATK to support next-step development of anti-radiation missiles

State Dept. approves potential Javelin missile sale to Georgia

State Dept. approves potential missile sale to Poland

INTERNET SPACE
Drone photos offer faster, cheaper data on key Antarctic species

Drone Race: Human Versus Artificial Intelligence

Pentagon steps up Somalia drone strikes

Lockheed Martin Integrates New Engine for Fury Unmanned Air Vehicle

INTERNET SPACE
US Navy accepts 5th MUOS Satellite for global military cellular network

SES GS Awarded US Government Satellite Solutions Contract

16th SPCS Defenders of critical satellite communications

First order for Elta ELK-1882T SATCOM network system

INTERNET SPACE
Artificial muscles give 'superpower' to robots

Marines roll out new anti-tank weapon system

Saab to supply South African forces with field kitchens

Raytheon, Saab to develop improved shoulder-launched weapon systems

INTERNET SPACE
Britain's May in Riyadh after surprise Baghdad visit

Greek PM defends controversial Saudi arms sale

Congress sends $700 bn defense bill for Trump's signature

Lockheed, Navantia renew collaborative agreement

INTERNET SPACE
Under Trump's shadow, Tillerson heads for Europe

US battles for global push on N.Korea amid Russia, China doubts

Ukraine plans NATO, EU referendums in 'near future'

Turkey detains 50 over links to group blamed for coup bid

INTERNET SPACE
Physicists explain metallic conductivity of thin carbon nanotube films

Ceria nanoparticles: It is the surface that matters

Semiconducting carbon nanotubes can reduce noise in interconnects

Manganese dioxide shows potential in micromotors









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.