Qualcomm Assumes Partial Ownership of Pantech
As part of a debt-to-equity restructuring program, Pantech has decided to parcel off some of its worth to Qualcomm. Qualcomm will become a minority shareholder in both Pantech & Curitel Communications and Pantech Co., owning no more than 15% of each company. Qualcomm will not participate on either company's board of directors nor will it play any leadership role. The deal will be completed in stages and should take several months to finish. It still needs to pass several regulatory hurdles before final approval. Pantech took the opportunity to reiterate its commitment to bringing more phones to all the markets it serves, including the U.S.
Qualcomm Rejects Broadcom's Attempt to Replace Board
Qualcomm today said it won't entertain the idea of replacing its board of directors with substitutes nominated by Broadcom. Earlier this month, Broadcom nominated 11 people to Qualcomm's board of directors.
Qualcomm Rejects Broadcom's Latest Acquisition Offer, But Leaves Door Open
Qualcomm's board of directors today unanimously rejected Broadcom's revised bid to acquire the company for $121 billion. Qualcomm's board continues to insist that Broadcom is undervaluing Qualcomm's overall worth.
Broadcom Proposes to Oust Qualcomm's Board
Broadcom today suggested Qualcomm's shareholders elect an entirely new board of directors during the latter's planned annual shareholder meeting on March 6, 2018. Broadcom took the opportunity to nominate 11 people to replace Qualcomm's board.
Broadcom Ups Its Bid for Qualcomm
Broadcom today made a second offer to acquire rival Qualcomm. Last year, the company offered $70 per share of Qualcomm's stock.
Qualcomm Says Two Big Buyers Likely to Bail Over Broadcom Tie-Up
Qualcomm warned investors that two of its most important customers have threatened to take their business elsewhere should Qualcomm be acquired by Broadcom. Qualcomm didn't name the customers, but said together they contribute a combined $1 billion in chip revenue.
Pantech committed to U.S., who cares!!!