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United States 5G Leadership at Core of Broadcom-Qualcomm Bid Regulatory Review

United States 5G Leadership at Core of Broadcom-Qualcomm Bid Regulatory Review

Broadcom officials also promised to establish a $1.5 billion fund to educate and train new engineers in the country. Broadcom said in a statement: "With its proven track record of investing in and growing core franchises, Broadcom is committed to making the USA the global leader in 5G. Once they have control, the US government loses much of its leverage to force compliance and Broadcom has to know this". It said that when they complete their acquisition of Qualcomm, they expect to have more than 25,000 employees in the United States, working diligently to make Broadcom the leading communication semiconductor company in the world.

"The bottom line is that a combined, American Broadcom-Qualcomm will be a more focused and stronger champion for sustained United States leadership in 5G than a standalone Qualcomm, an outcome that strongly supports America's national security interests", Broadcom stated in its letter. The review of Broadcom's bid illustrates the US government's expanding focus on the competitiveness of the national semiconductor industry as China advances. The job of CFIUS is to review acquisitions of USA companies by foreign entities to assess potential national security implications. Each year it would invest 3 billion dollars in engineering and research and 6 billion dollars in manufacturing thereby resulting in more number of high-paying tech jobs in the U.S. For this it would also pay huge dollars in additional taxes to the U.S.

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.

In addition, Mir wrote that statements by Broadcom officials indicate the company will take a "private-equity" approach to Qualcomm-reducing long-term investments such as R&D-a pattern that he said would follow Broadcom's previous acquisitions.




CFIUS's intervention at this early stage is rare.

"Broadcom will not sell any critical national security assets to any foreign companies", the letter said. Broadcom has nominated six directors for election to Qualcomm's 11-member board as a way to force negotiations between the two companies.

With the aim of soothing U.S. security concerns regarding its Qualcomm bid, Broadcom says it will maintain the R&D resources the chipmaker devotes to 5G.


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