Qualcomm CEO Steven Mollenkopf. Photo: Isaac Brekken / AP

Broadcom on Monday took the next step in its hostile takeover attempt for rival chipmaker Qualcomm, filing preliminary proxy materials in relation to a slate of 11 people it would like elected to Qualcomm's board of directors.

Qualcomm also could be facing troubles on the buy-side, as Elliott Management is now saying that NXP Semiconductors is worth $135 per share, compared to the $110 per share that Qualcomm agreed to pay over a year ago (the deal is still pending regulatory approvals). Remember that Broadcom's takeover offer for Qualcomm is not contingent on the NXP transaction closing, and Broadcom reiterated that position this morning.

  • Over half of Broadcom's proposed directors appear have at least some historical connection to private equity firm Silver Lake, which is backing Broadcom's takeover efforts. Some are former colleagues of current Silver Lake partners, some are former execs at Silver Lake portfolio companies and one is a consultant with a major limited partner in Silver Lake funds.
  • March 6 is when Qualcomm plans to hold its annual shareholder meeting.

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Deadly Hurricane Zeta slams U.S. Gulf Coast

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta has killed at least one person after a 55-year-old man was "electrocuted by a downed power line" in Louisiana as the storm caused widespread power outages Wednesday night, per AP.

What's happening: Zeta made landfall south of New Orleans as a Category 2 hurricane earlier Wednesday before weakening to Category 1. But it was still "battering southeastern Louisiana and southern Mississippi with life-threatening storm surge, high winds, and heavy rain" late Wednesday, per the National Hurricane Center.

Updated 51 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
1 hour ago - Health

Fauci says U.S. may not return to normal until 2022

Director of the National Institute of Allergy and Infectious Diseases, Anthony Fauci, testifies during a September Senate hearing on COVID-19 in Washington, D.C. Photo: Graeme Jennings/Pool/AFP via Getty Images

NIAID director Anthony Fauci told the Journal of the American Medical Association on Wednesday he doesn't expect a COVID-19 vaccine to be ready until January 2021 or later.

What he's saying: Fauci said during the interview that the U.S. was in a "bad position" after failing to keep case numbers down post-summer. "We should have been way down in baseline and daily cases and we’re not," he said.

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