February 13, 2018 / 1:19 PM / 6 months ago

Broadcom reduces Qualcomm board nominees before showdown

Feb 13 (Reuters) - Broadcom Ltd said on Tuesday it would seek to elect six members to the board of its acquisition target Qualcomm Inc instead of the 11 it earlier sought to elect.

Broadcom also reiterated it would withdraw its merger proposal for Qualcomm if it did not win an ongoing proxy fight or otherwise have its offer accepted by the end of Qualcomm’s shareholder meeting on March 6.

The move comes a week after Broadcom made a $121 billion “best and final offer” to buy Qualcomm, which was later rejected. (Reporting by Aishwarya Venugopal in Bengaluru)

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