ISS Recommends Qualcomm Stockholders Vote For Four Of Broadcom Nominees

(RTTNews) - Broadcom Limited (AVGO) said Tuesday proxy advisory firm Institutional Shareholder Services or ISS has recommended that Qualcomm Inc. (QCOM) stockholders vote on the Blue proxy card "for" four of Broadcom's independent director nominees - Samih Elhage, Julie Hill, John Kispert and Harry You.

Qualcomm's 2018 Annual Meeting of Stockholders is scheduled for March 6, 2018. In its February 16, 2018 report, ISS stated, "The election of four Broadcom nominees to the 11-member board seems to offer a reasonable path to a negotiated deal, which is likely to be the most beneficial path for shareholders."

Commenting on the report, Broadcom said in a statement, "It is important that Qualcomm stockholders vote for ALL six Broadcom nominees on the BLUE card to elect a majority of new board members so that Qualcomm stockholders will have the opportunity to obtain the benefit of Broadcom's best and final offer for Qualcomm of $82 per share."