logo
Plus   Neg
Share
Email

Broadcom Withdraws Offer To Buy Qualcomm After Presidential Order - Quick Facts

Broadcom Ltd. (AVGO) announced Wednesday it has withdrawn and terminated its hostile offer to acquire Qualcomm Inc. (QCOM). It has also withdrawn its slate of independent director nominees for Qualcomm's 2018 Annual Meeting of Stockholders.

The move follows the receipt of a Presidential Order that called for the immediate and permanent abandonment of the proposed $117 billion deal for the takeover of Qualcomm by Broadcom amid national security concerns.

Broadcom said it will continue to move forward with its redomiciliation process and will hold its Special Meeting of Stockholders as planned on March 23, 2018.

Broadcom's Board of Directors and management team sincerely appreciate the significant support we received from the Qualcomm and Broadcom stockholders throughout this process.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
RELATED NEWS
Follow RTT