Qualcomm v. Broadcom Round 2
Last week, I wrote about a proposed hostile takeover of Qualcomm by Broadcom -- a move that might have national security implications for the development of 5G technology in America. The takeover was to have come at a meeting scheduled for tomorrow, March 6.
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Last week, I wrote about a proposed hostile takeover of Qualcomm by Broadcom -- a move that might have national security implications for the development of 5G technology in America. The takeover was to have come at a meeting scheduled for tomorrow, March 6.
Today we learn, courtesy of Axios, that the shareholder meeting has been postponed. Apparently (as had been suggested was reasonable) "The Committee on Foreign investment in the U.S (CFIUS). which is reportedly now looking into the issue, is a government panel tasked with looking into overseas investments in U.S. companies. It typically doesn't weigh a transaction until a deal is reached."
The goverment has asked for a 30-day delay. Round two in this battle goes to Qualcomm.
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