Monday, March 5, 2018

Qualcomm postpones shareholder meeting

Qualcomm will postpone its shareholders' annual meeting from 06-March-2018 until 05-April-2018.

Reportedly, Qualcomm secretly filed a voluntary request with the Committee on Foreign Investment in the U.S. (CFIUS) asking for a preemptive investigation of Broadcom's proposed merger. This request has now resulted in an order to postpone the shareholder meeting which could have resulted in a new board of directors.

Broadcom described the postponement as "a blatant, desperate act by Qualcomm to entrench its incumbent board of directors and prevent its own stockholders from voting for Broadcom's independent director nominees."