Qualcomm Says Ex-CEO/Chair Paul Jacobs Eyes Takeover Bid and Won't Stay on the Board
Ex-CEO/Chairman Paul Jacobs told the board "he has decided to explore the possibility of making a proposal to acquire Qualcomm," the wireless/intellectual property company announced Friday evening. It said he won't be renominated for the board at this coming Friday's…
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annual meeting. "Following the withdrawal of Broadcom’s takeover proposal, Qualcomm is focused on executing its business plan and maximizing value for shareholders as an independent company," it said. "There can be no assurance that Dr. Jacobs can or will make a proposal, but, if he does, the Board will of course evaluate it consistent with its fiduciary duties to shareholders." Also last week, Broadcom pulled its bid after President Donald Trump blocked the potential deal, which the would-be acquiree had been rebuffing (see 1803150060).