Jana Partners urges Qualcomm to consider breakup – WSJ

(Reuters) – Activist investor Jana Partners is asking Qualcomm Inc to consider spinning off its chip unit from its patent-licensing business, the Wall Street Journal reported, citing a quarterly letter that will be sent to Jana investors on Monday.

Jana, one of Qualcomm’s largest shareholders, is also calling on the company to cut costs, accelerate stock buybacks and make changes to its executive pay structure, financial reporting and board of directors, the newspaper said.

Reuters could not immediately reach Jana Partners and Qualcomm for comment outside regular U.S. business hours