Ex-Qualcomm Chairman, CEO Paul Jacobs May Step Down From Board

Qualcomm Confirms Possible Paul Jacobs Bid, Removes Him from Board

Broadcom won't be able to buy Qualcomm now, but the targeted chipmaker could still be left open for snatching by other actors. Adding to the potential conflicts, Qualcomm is an investor in the Vision Fund. Broadcom officially withdrew its offer on Wednesday.

Jacobs' attempt to put together an offer comes just a few days after Qualcomm fended off a $117 billion hostile bid from Singapore-based rival Broadcom Ltd thanks to an order by U.S. President Donald Trump prohibiting the deal due to national security concerns.

Broadcom, whose WiFi chips are found in Apple iPhone and most Android phones, was eyeing Qualcomm's core baseband chips and licence business that would significantly benefit from the rollout of 5G wireless technology.

Congressional lawmakers had asked the Treasury Department to have the Committee on Foreign Investment in the United States (CFIUS)-which reviews that national security implications of deals in which a foreign company bids to buy a US firm to consider national security implications-to review the matter. Jeffrey Henderson, an independent Qualcomm director since 2016, was named by the board to serve as non-executive chairman.

Paul Jacobs, the recent chairman of the chipmaker Qualcomm, is looking to buy out the company, according to the Financial Times.

One change as Joe Schmidt names Ireland side to face England
Wing Jacob Stockdale has scored six tries in the four Six Nations games so far to tie the all-time championship record. Conversely, victory over Ireland , depending on results elsewhere on "Super Saturday" could see England finish second.

SoftBank Group Corp.is a possible investor in a Jacobs' buyout of Qualcomm.

SoftBank, a Japanese holding company, has major stakes in several Silicon Valley companies including Uber, WeWork, SoFi, and Slack thanks to its $100 billion mega fund specifically for investing in the industry. That is about 16.5 percent of NXP shares, though a week earlier Qualcomm executives said that 19 percent of shares had been tendered, indicating a dwindling interest among shareholders.

The idea has been been largely dismissed by analysts, because it would be expensive and could by blocked by the USA government, like Broadcom's failed bid.

Given that Qualcomm's board director slate faces no competition, the re-election of Qualcomm's board directors is assured. 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.

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