Broadcom’s biggest challenge with Qualcomm

A building on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake

When it comes to its plans for Qualcomm, Broadcom is clearly hoping the numbers will do the talking.

The chip maker posted record earnings and free cash flow earlier this week for its fiscal fourth quarter. But Broadcom stuck to its own performance and said nothing about its plans for Qualcomm, which it has proposed acquiring for $105 billion, mostly in cash. Qualcomm’s board of directors has already said no, leading Broadcom to offer up an alternative slate of directors to replace the board at the company’s annual meeting slated for March 6.