Bruising Qualcomm-Broadcom battle heads for showdown

Broadcom return to US could be complete in May

According to Broadcom, Qualcomm asked the Committee on Foreign Investment in the US (CFIUS), part of the treasury, to investigate the bid by the Singapore-based company. Broadcom had two meetings on February 14, 2018 and on February 23, 2018 with Qualcomm.

The effect of the order is to delay a vote of Qualcomm shareholders on a slate of six Broadcom-nominated candidates to serve on Qualcomm's board of directors.

In 2011 Chinese smartphone maker Huawei was forced to unwind a $2 million offer to acquire the assets of a failed USA company, 3Leaf Systems, when CFIUS determined that 3Leaf's technology could be used in ways that were not in the best interests of the United States.

See stocks near a buy point, get chart pattern recognition and run custom screens.

"It is critical that Qualcomm stockholders know that Qualcomm did not once mention submitting a voluntary notice to CFIUS in any of its interactions with Broadcom to date", the Singapore-based company said in its statement.

Broadcom's dismissive rhetoric notwithstanding, this is a very serious matter for both Qualcomm and Broadcom. Broadcom has accused Qualcomm of failing to negotiate seriously, saying they were involved in "engagement theater". First, Broadcom offered Qualcomm a takeover deal worth $103 billion.

Four of the Broadcom nominees already have more than 500 million votes, with the other two each nearly 150 million ahead of the nearest Qualcomm candidates, according to the data.

Nor'easter to bring NYC heavy rain, damaging winds, flooding
Heavy snow and strong winds already had caused power outages upstate, Cuomo said late Friday morning. By midmorning Friday, more than a half-million power customers were offline across that area.

John Kelly Acknowledges He Mishandled Accusations About Rob Porter
"We didn't cover ourselves in glory in terms of how we handled that on Wednesday morning; it was confusing", Kelly acknowledged. But Kelly said there was "nothing to even consider resigning over", despite criticism of his handling of the situation.

Google shunned white, Asian men, lawsuit asserts
One person, referring to the initiative, reportedly "complained that managers were speaking about blacks like they were objects". The conflagration briefly engulfed Google's own offices, turning the workspace into a polarized war zone .

The SEC has cleared Broadcom's preliminary proxy statement. Broadcom has been interacting with CFIUS for weeks and made two written submissions to CFIUS.

The government committee, which reviews foreign acquisitions of USA assets with an eye toward national-security interests, is led by the Treasury Department and includes officials from the departments of Justice, Defense, Homeland Security and Energy. A combined Broadcom-Qualcomm would create the world's third-largest chip maker, behind Samsung and Intel.

The meeting, scheduled for Tuesday, will be pushed back for at least 30 days, Qualcomm said.

Reuters had reported last week that the panel, which can stop mergers that could harm USA security, had begun looking at Broadcom's bid, after pressure from politicians including senior Republican Senator John Cornyn.

Qualcomm went on to challenge an assertion that wasn't exactly what Broadcom had asserted.

With CFIUS examining the deal, Qualcomm now can work to close its pending $43 billion acquisition of NXP Semiconductors to diversify its business beyond smartphones, attempt to make progress on patent licensing disputes with Apple and try to construct a stronger case to shareholders to remain a stand-alone company, said Rasgon.

Related news:

Hot News

isis-killer-beheading-video-story-top Anxiety as meat poisoning scare hits South Africa
Mar 06, 2018 - 01:46
Members of the public are in panic mode after processed meat products have been linked to the recent listeriosis outbreak. Here is what some the large supermarket chains said regarding Enterprise and Rainbow Chicken products.

isis-killer-beheading-video-story-top M*A*S*H Star & 'Cogsworth' Voice Actor, David Ogden Stiers Dies Aged 75
Mar 05, 2018 - 00:21
He was also the voice of an announcer in George Lucas' 1971 feature directorial debut, " THX 1138 ". The MASH cast member lost his battle with bladder cancer and died on Saturday aged 75.

isis-killer-beheading-video-story-top North Korea: US military drills harm reconciliation
Mar 05, 2018 - 00:15
During a phone call on Thursday, Moon told Trump of his plan to send a special envoy to North Korea in response to an invitation from leader Kim Jong Un .

isis-killer-beheading-video-story-top Josh Allen draws comparisons to Carson Wentz at NFL Combine
Mar 05, 2018 - 00:14
I'm higher on Memphis' Riley Ferguson than most. "There are a lot of talented guys here, so I really appreciate his recognition". I felt like when I had a great week of practice, I had a great game. "I feel that's why they're doubting me right now".

isis-killer-beheading-video-story-top 4 killed in gunfight with army near 44 RR camp in Shopian
Mar 05, 2018 - 00:13
While the army confirmed that the three slain persons were OGWs of terrorists, the police are yet to confirm their exact identity. Militants fired at the mobile vehicle check post of the security forces at Pohan in Shopian around 8 pm that led to a gunfight.

isis-killer-beheading-video-story-top Son shines for Spurs in hunt for Champions League spot
Mar 05, 2018 - 00:13
This is where it counts and what we have shown in the past at home and the support we have had". I think it's a fantastic run at home. "I think the team showed great patience and quality.

isis-killer-beheading-video-story-top Neymar's surgery successful, says Brazil confederation
Mar 04, 2018 - 02:07
Asked Friday whether the club had lost control of Neymar, PSG coach Unai Emery said both sides are working hand-in-hand. Neymar will definitely miss PSG's make-or-break Champions League last 16 second leg against Real Madrid next Tuesday.

isis-killer-beheading-video-story-top Hidden colony of 1.5M penguins discovered on Antarctica's Danger Islands
Mar 04, 2018 - 02:06
Scientists in Antarctica have recently found a massive supercolony of penguins off of the coast of Antarctica, using drones. It is also the only island to date with a population estimate (285,000-305,000) derived from a ground survey of the island.

isis-killer-beheading-video-story-top California officials order mandatory evacuations as rain threatens another round of mudslides
Mar 04, 2018 - 02:05
Northern mountains were expected to receive as much as 5 feet (1.5 meters) of snow and reach 7 feet (2.1 meters) in some areas. For help evacuating animals, call Santa Barbara County Animal Services at 805-681-4332.

isis-killer-beheading-video-story-top What are the different types of diabetes?
Mar 04, 2018 - 02:04
People with type 1 diabetes have these antibodies-and therefore can not make insulin on their own-while people with type 2 do not. They believe that the study might help tailor and target treatment and lay the foundation for precision medicine in the future.

isis-killer-beheading-video-story-top Tiger Woods to play in Valspar Championship in Palm Harbor next week
Mar 04, 2018 - 02:02
In his WGC debut, the 21-year-old added a five-under 66 to his opening-round 65 for an 11-under 131 total. The PGA Tour says he committed on Friday to play next week in the Valspar Championship at Innisbrook.

isis-killer-beheading-video-story-top Aer Lingus cancel 50 flights out of Dublin tomorrow
Mar 04, 2018 - 02:00
We have a 24 hour team in place at airport to minimise the severe weather conditions expected later today from Storm Emma. We remind passengers that both easyJet and Ryanair have cancelled operations for today.

isis-killer-beheading-video-story-top Colts have met with RB Saquon Barkley at NFL Combine
Mar 04, 2018 - 01:50
Mike Mayock described his 40-yard dash performance perfectly, calling it, "a historically bad time", as reported by Sporting News. Not even the Browns are inept enough to pass on him, right? He has another chance to impress at his pro day in a couple of weeks.

isis-killer-beheading-video-story-top Kaala makers to release teaser on Friday due to Kanchi seer's demise
Mar 04, 2018 - 01:47
Nearly all the attire and mannerisms of Kaala are looking like that of Kabali which is said to be the main drawback of this movie. A couple of summers ago Rajinikanth went back to his roots with Kabali , directed by the young and talented Pa.

isis-killer-beheading-video-story-top Does WWE have a Brock Lesnar problem ahead of WrestleMania 34?
Mar 04, 2018 - 01:47
The last scenario was that they scripted the show this way at last minute and just told him not to come to the arena at all. Dana White has revealed he believes there is a " very, very, very good " chance Brock Lesnar will fight again in the UFC .