Qualco­mm has been seekin­g to walk a fine line betwee­n resist­ing Broadc­om’s acquis­ition approa­chUS semiconductor company Qualcomm should try to negotiate a sale to Broadcom following the latter’s sweetened $121 billion offer, proxy advisory firm Institutional Shareholder Services (ISS) said. Broadcom first unveiled an unsolicited $70 per share cash-and-stock offer in November, which Qualcomm rejected. ISS said it did not recommend voting for all six Broadcom nominees because Qualcomm’s board would then be less inclined to drive a hard bargain with Broadcom in deal negotiations. ISS recommended that Broadcom nominees Samih Elhage, Julie Hill, John Kispert and Harry You should be elected as Qualcomm board directors. It suggested that Qualcomm shareholders could gain greater exposure to the deal’s potential upside if they were to receive more of the combined company.

Source: The Express Tribune February 19, 2018 06:22 UTC