Qualcomm kicked its former CEO off the board after he said he might try to

Qualcomm kicked its former CEO off the board after he said he might try to buy the $89.7 billion company (QCOM)

Qualcomm will not renominate its former chairman Paul Jacobs to the board of directors, the company announced Friday.
Qualcomm also confirmed reports that Jacobs is looking to buy out the publicly traded company, and said it will evaluate the offer if it is made.
Jacob’s offer comes days after President Trump blocked a hostile takeover of the company by its Singaporean competitor Broadcom.

Qualcomm will not re-nominate its former chair Paul Jacobs to the board of directors when the board meets on March 23, the company announced Friday.

Qualcomm also confirmed earlier reporters that Jacobs, its former CEO and chairman, is looking to acquire the company. The Financial Times first reported on Thursday that Jacobs is in talks with global investors, including SoftBank, as he seeks to gain ownership of the $ 89.7 billion publicly traded company.

See the rest of the story at Business Insider

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