- Amid machinations in the hostile pursuit of Qualcomm (QCOM +0.8%) by Broadcom (AVGO +1.5%) -- including Qualcomm boosting its offer for NXP Semiconductors, and Broadcom correspondingly cutting its bid for Qualcomm -- influential proxy adviser Institutional Shareholder Services is sticking with its backing of part of Broadcom's slate for Qualcomm.
- ISS is reiterating its support for four of the six dissident nominees to the Qualcomm board (still short of a majority), in hopes that a deal can be reached that benefits everyone.
- Electing six members is a way of "maintaining pressure, on both sides, to reach a beneficial outcome for shareholders."
- Qualcomm may get better leverage with Broadcom with an ability to close on NXP, and considering the strategic value, it doesn't look like Qualcomm is overpaying with its $127.50/share offer, the firm says.
- Source: Bloomberg
- Previously: Qualcomm sends shareholder letter about Broadcom and NXP (Feb. 22 2018)
- Previously: Qualcomm: Broadcom offer 'even worse' despite certainty around NXP deal (Feb. 21 2018)
- Now read: Upcoming Dividends; 89 Companies, 32 Increases, 14 Double-Digit Increases
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