February 16, 2018 / 1:38 PM / 4 months ago

BRIEF-Qualcomm Says Open To Discussions With Broadcom For Proposal That Reflects "True Value" Of Co's Shares

Feb 16 (Reuters) - Qualcomm Inc:

* QUALCOMM PROVIDES UPDATE ON MEETING WITH BROADCOM

* QUALCOMM INC - BOARD FOUND MEETING WITH BROADCOM “TO BE CONSTRUCTIVE”

* QUALCOMM INC - ‍BOARD REMAINS UNANIMOUSLY OF VIEW THAT BROADCOM’S PROPOSAL MATERIALLY “UNDERVALUES” QUALCOMM​

* QUALCOMM - BROADCOM EXPRESSED WILLINGNESS TO AGREE TO SOME POTENTIAL ANTITRUST-RELATED DIVESTITURES BEYOND THOSE IN PREVIOUSLY FILED AGREEMENT

* QUALCOMM -BROADCOM CONTINUED TO RESIST AGREEING TO OTHER COMMITMENTS EXPECTED TO BE REQUIRED BY FTC, EUROPEAN COMMISSION, MOFCOM, OTHER REGULATORY BODIES

* QUALCOMM - BROADCOM ALSO DECLINED TO RESPOND TO QUESTIONS ABOUT INTENTIONS FOR FUTURE OF QUALCOMM’S LICENSING BUSINESS

* QUALCOMM - BROADCOM INSISTS ON CONTROLLING MATERIAL DECISIONS ON CO’S LICENSING BUSINESS DURING EXTENDED PERIOD BETWEEN SIGNING & POTENTIAL DEAL CLOSE

* QUALCOMM - BOARD IS INTENSELY FOCUSED ON MAXIMIZING VALUE FOR QUALCOMM STOCKHOLDERS, WHETHER THROUGH EXECUTING ON GROWTH STRATEGY OR BY SELLING CO

* QUALCOMM - IN FEB. 14 MEETING, BROADCOM REITERATED THAT $82.00 PER SHARE IS “ITS BEST AND FINAL PROPOSAL”

* QUALCOMM INC - ‍BOARD REMAINS UNANIMOUSLY OF VIEW THAT BROADCOM’S PROPOSAL HAS AN “UNACCEPTABLY” HIGH LEVEL OF RISK​

* QUALCOMM INC - BOARD OPEN TO DISCUSSIONS WITH BROADCOM TO SEE IF PROPOSAL THAT APPROPRIATELY REFLECTS “TRUE VALUE” OF CO’S SHARES CAN BE OBTAINED Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below