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Qualcomm Receives Presidential Order Prohibiting Broadcom’s Proposed Takeover

All of Broadcom’s director nominees are also disqualified from standing for election as directors of Qualcomm.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Qualcomm Incorporated received a Presidential Order to immediately and permanently abandon the proposed takeover of Qualcomm by Broadcom Limited. Under the terms of the Presidential Order, all of Broadcom’s director nominees are also disqualified from standing for election as directors of Qualcomm.
 
Qualcomm was also ordered to reconvene its 2018 Annual Meeting of Stockholders on the earliest possible date, which based on the required 10-day notice period, is March 23, 2018. Stockholders of record on Jan. 8, 2018 will be entitled to vote at the meeting.
 
The Presidential Order is available at: https://www.whitehouse.gov/presidential-actions/presidential-order-regarding-proposed-takeover-qualcomm-incorporated-broadcom-limited/.

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