Broadcom Limited (NASDAQ: AVGO) has announced that it has filed preliminary proxy materials with the Securities and Exchange Commission (“SEC”) in connection with its planned solicitation of proxies to elect 11 nominees to the Qualcomm Incorporated (NASDAQ: QCOM) board of directors at Qualcomm´s 2018 Annual Meeting of Stockholders, which Qualcomm has announced will be held on March 6, 2018, the company said.
Broadcom also announced that it has filed a premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) with the US Department of Justice Antitrust Division and the Federal Trade Commission regarding its proposed acquisition of Qualcomm.
To ensure continuity, Broadcom would support a decision by the 11 new directors, upon their election to the Qualcomm Board, to increase the size of the Board and reappoint three directors.
Moelis & company LLC, Citi, Deutsche Bank, J.P. Morgan, BofA Merrill Lynch, Morgan Stanley and Wells Fargo Securities are acting as financial advisors to Broadcom. Wachtell, Lipton, Rosen & Katz and Latham & Watkins LLP are acting as legal counsel.
Broadcom is a designer, developer and global supplier of a broad range of digital and analog semiconductor connectivity solutions. Its extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial & other.