Bruising Qualcomm-Broadcom battle heads for showdown

Bruising Qualcomm-Broadcom battle heads for showdownWith a potential for the biggest-ever deal in the tech sector at stake, Qualcomm shareholders will have their say on a hostile bid for the US mobile chip giant by Singapore-based rival Broadcom. Qualcomm shareholders at an annual gathering Tuesday will get to vote whether to replace six of the California company’s 11 board members with candidates backed by Broadcom, essentially endorsing the deal estimated to be worth $ 117 billion. Qualcomm’s board on Thursday sent a letter to shareholders urging them to re-elect its current members, making a statement against Broadcom’s offer.

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