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Broadcom Is on Course to Win Majority of Qualcomm Board Seats

  • Qualcomm CEO Mollenkopf is said to get second-fewest votes
  • CFIUS orders vote delay to review deal on security concerns
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Why Qualcomm Delayed Its Shareholder Meeting

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Broadcom Ltd. is on course to win all six of the seats it’s seeking on Qualcomm Inc.’s board, giving it a majority to push forward with its hostile takeover even as a U.S. government panel forced a delay of the final tally amid concerns about the deal’s threats to national security.

Based on a count of more than half of the votes already cast, Broadcom would win a majority of Qualcomm’s board seats, according to information obtained by Bloomberg. If that result holds up when the final vote takes place, Broadcom would have a mandate to overturn Qualcomm management’s opposition to the $117 billion deal. Representatives for Broadcom and Qualcomm declined to comment.