Broadcom Evaluates Options, Following Qualcomm's Decision To Raise Offer For NXP

(RTTNews) - Broadcom Limited (AVGO) issued statement regarding Qualcomm Inc's (QCOM) decision to raise its offer price for NXP Semiconductors, N.V. to $127.50 per share. Broadcom said it is evaluating its Options following Qualcomm's Transfer of Value from Qualcomm Stockholders to NXP Stockholders. Broadcom urged Qualcomm stockholders to vote the BLUE Card to express their disappointment with the Qualcomm Board's decision to transfer value.

Broadcom said ISS recommended Qualcomm Stockholders Vote on the BLUE Proxy Card "FOR" Four Broadcom Nominees and ISS stated that Qualcomm should negotiate with Broadcom.

Glass Lewis Recommended Qualcomm Stockholders vote on the BLUE Proxy Card "FOR" All six Broadcom nominees.

Despite ISS and Glass Lewis Recommendations, Qualcomm Board Unilaterally Transfers $4.10 per Qualcomm Share of Value from Qualcomm Stockholders to NXP Stockholders, Broadcom said.