As proxy battles go, Qualcomm’s recently delayed shareholder vote on a bid to replace board members has gone into unchartered territory, with a government agency stepping in to delay any action for at least 30 days.
Qualcomm, a leading manufacturer of the chip sets found in nearly all smartphones, is fending off a takeover bid by Broadcom, a semi-conductor company domiciled in Singapore. The $117 billion, $82 per share, deal is one of the largest ever in the technology space.
