Sunday, 24 June, 2018

Qualcomm Outspent Broadcom About 100 to 1 in Lobbying

President Trump invoked national security in blocking Broadcom's proposed takeover President Trump invoked national security in blocking Broadcom's proposed takeover
Doris Mccormick | 14 March, 2018, 20:32

Broadcom Ltd Chief Executive Hock Tan is unlikely to slow his acquisition spree after US President Donald Trump blocked the microchip maker's US$117 billion (RM456.7 billion) bid for Qualcomm Inc on national security grounds, analysts said yesterday. In February, he wrote to Treasury Secretary Steven Mnuchin saying Broadcom's bid to win control of Qualcomm's board at a March shareholders meeting should be examined by the Committee on Foreign Investment in the US, according to a copy of the letter obtained by Bloomberg. Companies including Qualcomm and China's Huawei have been investing heavily to stake their claim in the underlying technology. Given a wave of consolidation in the telecom-equipment industry, fewer companies are involved "and the stakes are bigger", he said.

"The case against the acquisition is inherently tied to the argument that the transaction could adversely impact USA control of the pace and progress of the development of 5G technologies", he said. "This is in large part because of a weakening of Qualcomm's position would leave an opening for China to expand its influence on the 5G standard-setting process". The move followed a letter from the Committee on Foreign Investment, which said that letting a foreign company control Qualcomm would pose a security risk. But it might slow it down, Fleming said: "They honestly believe they are helping to protect national security by doing this".

The Presidential order is seen as a move to shelter USA companies from foreign competition.

The Chinese company has described the allegations as "baseless".

By way of a quick recap, the months-long saga began in November when Qualcomm rejected a takeover offer from Broadcom.

Jhene Aiko and Big Sean Deny Nicole Scherzinger Cheating Rumors
Aiko and the rapper had been together for over four months, following Aiko's divorce from former husband, producer Dot Da Genius . Everyone's shocked when Big Sean is rumored to be cheating on girlfriend Jhene Aiko , except for Ariana Grande .


Houston Astros Visit President Donald Trump at White House
It's just such a striking fact of the American gun control debate that this whole issue is being discussed around arming schools. A Republican who speaks with senior White House officials regularly says this is what many aides were looking to avoid.


Three takeaways from the Joseph Percoco corruption trial
Defense lawyers said the payments were legitimate fees for consulting work performed when Percoco was out of state government. One other notable state official, who will go on trial later this year, is former SUNY Poly President Alain Kaloyeros.


Broadcom had meant to move its official headquarters to the U.S., thereby reducing the amount of oversight necessary to make the deal work.

CFIUS on March 4 ordered Qualcomm to postpone a shareholder meeting to vote on Broadcom's nominees as directors of the target. The initial voting also showed Broadcom on course to win all six board slots it was seeking.

Shares of Broadcom were untraded, while those of Qualcomm were up marginally before the opening bell.

"We'll have to see if management change is in the offing - it looks like investor confidence in management is low", said Stacy Rasgon, an analyst at Sanford C. Bernstein.

Recommended

Moody's raises medium-term price band forecast for crude oil Moody's raises medium-term price band forecast for crude oil Gasoline stocks fell by 6.3 million barrels, compared with analysts' expectations in a Reuters poll for a 1.2 million-barrel drop. Weekly U.S. crude production figures will be published by the Energy Information Administration (EIA) later on Wednesday.

Apple Changes MFi Logo - Manufacturers Have 90 Days to Respond Apple Changes MFi Logo - Manufacturers Have 90 Days to Respond Unlike with Lightning receptacles, Apple does not allow the port to be used for passthrough charging or sync of an iOS device. Up until now it was possible to use adapters as a workaround to not having this cable.

March Madness: Virginia opens up tournament plat against UMBC March Madness: Virginia opens up tournament plat against UMBC Hunter, a 6-7 redshirt freshman, sat out last season, but made an immediate impact once he joined coach Bennett's lineup. The Cavaliers could play sophomore forward Mamadi Diakite, who has produced well late in the season, more minutes.

Chef Justin Carlisle of Ardent in Milwaukee advances toward Beard Award Chef Justin Carlisle of Ardent in Milwaukee advances toward Beard Award This year, Zahav received a new chef nomination, this time for Camille Cogswell , under the category Rising Star Chef . This is the fourth year in a row that Carlisle has been nominated for a James Beard Award for Ardent.

National Pi Day Food Deals National Pi Day Food Deals Locations not participating in Pi Day are Disney Springs, Houston Airport, UCLA, Staples Center, and George Mason University. Whole Foods : Check the bakery section for $3.14 pies - while supplies last - at 8003 Turkey Lake Road in Orlando; 1030 N.

Trump's State, CIA picks face confirmation fights in Senate Trump's State, CIA picks face confirmation fights in Senate Lawmakers from both major parties have criticized those cuts and the administration's failure to fill dozens of open jobs there. Rex Tillerson's tenure as Secretary of State is over and it nearly feels like an act of mercy to put an old, sick pet down.

Jeff Goldblum Will Be in Jurassic World Evolution Jeff Goldblum Will Be in Jurassic World Evolution Jurassic World: Fallen Kingdom , which also stars Chris Pratt and Bryce Dallas Howard, charges its way into theaters on June 22. If this isn't enough to sell you on the game, it's worth noting that the game comes with the Jeff Goldblum seal of approval.

Walmart goes big into online grocery delivery, challenging Amazon Walmart goes big into online grocery delivery, challenging Amazon There is no subscription required, as is the case for Amazon Fresh and a handful of other, more costly options on the market. Walmart already employs 18,000 personal shoppers and plans to hire more to support the expansion of this program.

Duterte withdraws from worldwide rights treaty following criticism of war on drugs Duterte withdraws from worldwide  rights treaty following criticism of war on drugs The preliminary investigation is still ongoing as of Wednesday, according to the ICC page on Duterte's 'war on drugs' campaign. Police said almost 5,000 suspects have been killed in shootouts during drug raids since Mr Duterte took office in mid-June.

New Raspberry Pi Offers Faster Performance, Connectivity New Raspberry Pi Offers Faster Performance, Connectivity As you'd expect, the new board remains compatible with all the existing Pi 3 Model B accessories and retains the $35 price point. All of you who are interested in getting your hands on one of these devices can do so on this link .

Bihar By-Election Result 2018; RJD leads by 8899 votes Bihar By-Election Result 2018; RJD leads by 8899 votes Security across the Gorakhpur and Phulpur constituencies in Uttar Pradesh have been tightened as counting of votes is under way. The Bhabua seat is witnessing a straight contest between BJP's Rinki Pandey and Congress' Shambhu Singh Patel.

Twitch Offering More Free Games to Prime Subscribers Each Month Twitch Offering More Free Games to Prime Subscribers Each Month It's been more than a year since Amazon first tapped into Twitch's customer base with perks to improve their experience. It's just that under the new " Free Games With Prime ", subscribers will now gain this benefit every single month.

Don't believe the hype about the coming solar storm Don't believe the hype about the coming solar storm Just because this storm isn't up to the hype doesn't mean that solar storms in general should be ignored. These solar storms are accounted based on a scale of G1 to G5 where G1 is a weak/minor solar activity.

Philippines' Duterte to issue notice of withdrawal from ICC Philippines' Duterte to issue notice of withdrawal from ICC Philippine officials had initially said in February that the country was ready to cooperate but asked for fairness. Roque called the complainants "domestic enemies of the state" and said the ICC had no jurisdiction.

Could This Is Us Be All In Jack's Head? Could This Is Us Be All In Jack's Head? In a weird "what if" moment, This Is Us explores the 40th wedding anniversary of Jack and Rebecca, had he not died after the fire. By the time we pick up the action, she's already signed away her parental rights, and Deja is more sullen and angry than ever.