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Qualcomm Woos Shareholders With Promise of Earnings Boost

  • Chipmaker asks shareholders to trust strategy, re-elect board
  • Broadcom accuses Qualcomm of overpromising, under-delivering
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Qualcomm’s CEO Says Broadcom Offer Not in Ballpark

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Qualcomm Inc. launched its public defense against the $105 billion hostile takeover attempt by Broadcom Ltd, asking shareholders to have confidence in management’s strategy and push aside the suitor.

In a letter to shareholders Tuesday, the chipmaker asked them to re-elect the existing board at its annual meeting on March 6. Broadcom has introduced its own slate of board candidates in an effort to consummate what would be the biggest ever technology industry deal.