Broadcom hits back against USA government concerns with $1.5 billion R&D fund
08 Marcha, 2018, 00:40 | Author: Misty Newman
In a move that underscores Washington's tilt toward increasingly protectionist measures, the Monday that Singapore-based chipmaker Broadcom's proposed acquisition of rival Qualcomm may pose a national security risk. The Committee is particularly concerned that if Qualcomm does not maintain its position as one of the top investors in semiconductor research, it could lose its leading position in helping to determine global industry standards.
The letter raised red flags about a Broadcom takeover possibly weakening Qualcomm long-term competitiveness in telecommunications technologies and standard setting - opening the door for Chinese companies such as Huawei to become dominant players in upcoming 5G networks. If it achieves its goal of acquiring Qualcomm, Broadcomsaid it expects to have more than 25,000 employees in the U.S.
Shares of Qualcomm slid 3 percent on growing investor concern that such government scrutiny, unusual for a deal that has not yet been agreed, would scupper any takeover by Broadcom. Broadcom's past acquisitions could be used as evidence of a weaker market position in the event of a Qualcomm takeover.
The Wall Street Journal reported on March 5 (local time) that the USA government put a brake on Broadcom's attempt to acquire Qualcomm, which was expected to become the largest M&A deal in the global semiconductor industry. This follows news that the U.S. government is investigating the company's proposed takeover for national security concerns.
Over the weekend, the government asked Qualcomm, which is based in San Diego, to delay its annual shareholder meeting by 30 days as it conducts its review. On March 4, 2018, the U.S. Department of Treasury ("Treasury") filed an agency notice pursuant to 31 C.F.R. § 800.401 (c), broadening the scope of review to cover the. proposed hostile takeover of Qualcomm. Harm to Qualcomm's innovation would allow China to expand its influence in key wireless technology, the government said.
More specifically, he cited Broadcomstatements indicating it may focus more on short-term profitability after any acquisition, possibly leading to a reduction in research and development spending.
KitGuru Says: It looks like the USA security panel found plenty of reasons for the government to be concerned over Broadcom's attempts to take over Qualcomm. 6, a move it has argued should not make it subject to a review on national security concerns. Better to keep it in American hands and protect American national security."-Sen".
"This will ensure America's lead in future wireless technology", Broadcom said in its statement. Broadcom just has to wait, move back to the USA, and that will be one obstacle it does not have to worry about. Both trade on the Nasdaq.
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