Broadcom's investors (and Wall Street!) are favorable towards the deal, but Qualcomm itself has been fighting hard against the takeover.
In a February 26 letter to Treasury Secretary Steve Mnuchin, Rep. John Cornyn, R-Texas, the second-ranking Republican in the House of Representatives, asked Mnuchin to have CFIUSget involved given not only that a China-based company was trying to buy an American entity, but that it was doing so through a hostile takeover. "Better to keep it in American hands and protect American national security".
That prompted a fusillade from Broadcom, with an equally accusatory response from Qualcomm.
Broadcom slammed Qualcomm's decision to "secretly" file a voluntary request with CFIUS to start an investigation, labelling it a "blatant, desperate act" to entrench its incumbent board of directors.
"This can only be seen as an intentional lack of disclosure - both to Broadcom and to its own stockholders", the Singapore-based chipmaker said in a statement. The takeover was to have come at a meeting scheduled for tomorrow, March 6.
"We can not overstate the likely harm that would result to Qualcomm, the USA company leading the development of 5G and other next-generation technologies, as well as to United States security interests", the letter said.
Last month, Qualcomm increased its own takeover bid for NXP Semiconductors, defying a demand by Broadcom that it not do so.
Cotton said in a statement that Qualcomm's work is "too important" to allow a hostile takeover by a foreign company. "Broadcom has been interacting with CFIUS for weeks and made two written submissions to CFIUS".
The company added that the US Securities and Exchange Commission (SEC) has cleared Broadcom's preliminary proxy statement, and as Broadcom has pledged to redomicile to the US - and its board is made up of individuals which are nearly all American - CFIUS does not have to be involved in this transactions.
The San Diego-based company's stock was trading at $64, down about 1 percent, on Monday morning.
Despite Broadcom's plans to move back to the United States, CFIUS has already shown an interest in the proposed transaction because Broadcom has proposed six directors for Qualcomm's 11-member board.
Broadcom is run by a Board of Directors and senior management team consisting nearly entirely of Americans.
"Nevertheless, politics can and does have a life of its own, and the early investigation (warranted or not) is proceeding", he wrote.
"The Committee on Foreign Investment in the United States issued an interim order to Qualcomm directing it to postpone its annual stockholders meeting and election of directors by 30 days", a Treasury spokesman said in a statement.
Broadcom has argued that CFIUS' concern is unwarranted since it does not control the directors that it proposed.
The award for Best Lead Actress goes to Frances McDormand for her role in " Three Billboards outside Ebbing, Missouri ". Gary Oldman, winning best actor for Darkest Hour , quipped, "I'm not going to get the ski" amid his rambling speech.
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Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems during the 2nd quarter valued at $104,000. COPYRIGHT VIOLATION WARNING: "Cobblestone Capital Advisors LLC NY Buys 4,021 Shares of Cisco Systems, Inc ".
The 86-year-old star appeared on the red carpet in the same dress she wore 56 years ago to pick up her gong for West Side Story . Moreno is one of only a dozen performers to hold the EGOT designation, having won an Emmy, a Grammy, an Oscar and a Tony award.
The incident affected pedestrian and vehicular traffic around the White House, the Secret Service said earlier on Twitter. The Metropolitan Police Department identified the man as 26-year-old Cameron Ross Burgess of Maylene, Ala.
Rouhani's official website quoted him as telling Infantino that Iran "always has tried to provide more and more access to sport". This has forced Iranian footballers to play their home games against Saudi teams in Oman.
He told the NFL Network that he wanted to run the 40-yard dash in 4.3 seconds and reach 42 inches in the vertical jump . Ohio State CB Denzel Ward measured 5-feet-10 7/8 inches, 183 pounds and has 31 1/4-inch arms at the 2018 NFL Combine .
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England beat New Zealand by 4 runs
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