Broadcom scales back Qualcomm board challenge to simple majority

(Reuters) - Broadcom Ltd (AVGO.O) cut the number of board seats it was trying to win at Qualcomm Inc (QCOM.O) to six from 11 on Tuesday, saying this would let Qualcomm shareholders push the U.S. chip maker toward a sale while ensuring continuity. The move came following Singapore-based Broadcom’s meeting with proxy advisory firm ISS on Monday and concern from some Qualcomm shareholders that rep...