- A U.S. Treasury official sent a letter to Qualcomm (NASDAQ:QCOM) and Broadcom (NASDAQ:AVGO) yesterday saying the proposed acquisition merits a full investigation. Qualcomm released the letter today.
- Assistant Secretary for Investment Security Aimen N. Mir cites concerns about Broadcom’s relationships with third-party foreign entities but says most of the concerns of CFIUS are classified.
- A source tells Reuters that the U.S. military worries “there would essentially be a dominant player in all of these technologies and that’s essentially Huawei.”
- Broadcom shares are up 0.5% to $248.16.
- Qualcomm shares are down 1% to $63.40.
- Previously: Bloomberg: Broadcom on course to win Qualcomm board (March 5)
- Previously: Qualcomm adjourning meeting to April 5 after CFIUS action (March 5)