Qualcomm Decides To Stay one Company

Qualcomm said it decided not to split its chipmaking and patent licensing businesses into two separate companies. “Our review was comprehensive,” CEO Steve Mollenkopf said during a call with analysts Tuesday, after a board meeting. “We looked at everything.” Mollenkopf said a special committee of the board on which he served had looked at full and partial separation of the business lines, tracking stocks, a subsidiary initial public offering and “various changes to our capital structure.” Jana Partners, which invested more than $2 billion in Qualcomm in April, had pressed for a breakup to boost the share price, analysts said. “The strategic benefits and synergies” of staying one company “are not replicable through alternative structures,” Mollenkopf said in a statement. “We therefore believe the current structure is the best way to execute on our strategy to build on our position in the ecosystem and deliver enhanced performance and returns.” Qualcomm stock closed up 2.5 percent Tuesday to $48.02.