Deals
Broadcom Prepares for Proxy Battle If Qualcomm Rejects Bid
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Broadcom Ltd. and its advisers are gearing up for a proxy battle, making an appeal directly to shareholders, should Qualcomm Inc. reject its $105 billion takeover offer, according to a person with knowledge of the matter.
Under Chief Executive Officer Hock Tan, Broadcom wouldn’t have made the proposal if it weren’t prepared to go hostile, said the person, who asked not to be identified discussing private negotiations.