Chapter 1590 (1/2)

”I'm not a semiconductor person, but I know how to make money and operate.”.

”For all listed chip companies, after all, they still have to explain to shareholders and investors that they are not only looking at revenue, but also earnings and earnings per share, which are what shareholders and investors care about...”

”You ask me what the Qualcomm board is doing now? Ha ha, look at the selling of Qualcomm shares by several institutional shareholders on the scene, and you can see the attitude and views of shareholders

“。。。 Structurally, in the 1980s, small start-ups entered the semiconductor industry. In the 1990s, the trend of listing and small-scale M & A began. By 2000, horizontal mergers and large-scale transactions appeared, and the development speed of the semiconductor industry has declined.

As I stressed before, I am not a semiconductor person, but I know how to make money and operate. In the next decade, the trend of M & A in semiconductor industry will move from horizontal M & A to vertical integration M & A in the upstream and downstream. In the future, the ecosystem of semiconductor will become more and more important.

For Qualcomm's current board of directors, I don't think they can lead Qualcomm to meet the challenges in the future. I'm disappointed that they completely ignored the interests of shareholders and investors and acted on their own

In the conference room of Qualcomm's headquarters in San Diego, California, the members of the board of directors watched the LCD TV one by one. Andy Smith faced many reporters, accompanied by the shareholders of six major institutions, and interviewed like a press conference outside the Michelin restaurant.

Silence!

The collective silence makes the atmosphere in the conference room extremely dignified!

In order to protect their property from hostile takeover, it can be said that the members of Qualcomm's board of directors who have tried all kinds of tricks are silent and depressed at the moment.

They delayed the general meeting of shareholders for a month. They wanted to use time for space. When they saw the six institutional shareholders and Andy Smith standing together, it seemed that everything seemed so ridiculous!

The ”overlord” whale swallows the whole hostile acquisition plan, which is just a blunder. Now they know that Andy Smith has no overall acquisition plan from the beginning. The real intention is to aim at the board of directors, subvert the board of directors to achieve the ultimate result of controlling Qualcomm.

Whose destiny will be rewritten in the near future?

Now it seems that there is no suspense about all this! Andy Smith has won the support of Qualcomm's top six institutional shareholders, plus his own shares, easily toppled the board.

With such an important ”counterattack” less than a week away from the shareholders' meeting, Andy Smith clearly does not intend to give Qualcomm's board of directors reaction time.

Now I think Andy Smith is right. Qualcomm shareholders are the real helmsman!

Perhaps all of this, in the face of hostile takeover, the board of directors decided to fight back, it has fallen into the trap.

Andy Smith's hostile takeover and Qualcomm's board of directors' counterattack have different purposes, and the results are naturally tens of millions of times different.

Andy Smith's acquisition from the very beginning was for the purpose of investment benefits. In order to get the widest support, naturally, he would not consider Qualcomm's long-term strategy, but make the company's performance more beautiful by promising shareholders, drawing big cakes, or even cutting costs and layoffs in the short term, so that shareholders can obtain short-term profits as chips.

The board of directors, based on technological innovation and for the purpose of business coordinated development, starts from the long-term development strategy of business and faces the future industrial trend. The return may be slow, but it will be longer, and it has the potential to continue to explode.

To be frank, it is the difference between short-term interests and long-term interests.

Now, Andy Smith's choice of time node for Qualcomm acquisition should also be a deliberate choice.

There are enough short-term income plans in place to persuade institutional shareholders who are mired in the financial crisis.

When Qualcomm's board of directors is desperately trying to keep its board seat, use funds to buy back shares, acquire other companies, spend heavily, increase Qualcomm's assets, and prevent Andy Smith's malicious acquisition.