The main stated reason for this don't seem to be any assumption that Singapore-based Broadcom would set about pillaging U.S. state secrets the moment it got its hands on Qualcomm.
The Treasury Department's concern is both over national security issues and a fear China would be able to gain a strategic advantage in future 5G networks development.
Qualcomm just concluded its 5G day in San Diego, California, where it showed off a number of new demos showcasing what the new Snapdragon 845 can do. According to a Financial Times report, Treasury has stepped in to delay the meeting by a month, to allow the Committee on Foreign Investment in the United States (CFIUS) to investigate the proposed acquisition by Singapore-based Broadcom. Broadcom then attempted to force a vote to install six new members on the 11-person board, who would effectively do Broadcom's bidding, but the US government intervened. The attorney believes that the letter from the U.S. Treasury spells the end of Broadcom's bid for now.
The US government, including the Department of Defense, also source sensitive technologies from Qualcomm. The company said in a statement that it is cooperating with CFIUS and is committed to making the combined company a global leader in 5G and other technologies. 6, a move it has argued should not make it subject to a review on national security concerns.
Broadcom has been working to take over rival Qualcomm for weeks and the two companies were closing in on a deal before they disagreed on a price - prompting an attempted hostile takeover.
Reuters reported last week that CFIUS had begun looking at Broadcom's bid as pressure grew from politicians, including senior Republican U.S. Senator John Cornyn.
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Four days later, Broadcom announced its Qualcomm bid.
Broadcom is a Singaporean company and Singapore is a longstanding and strong ally of the United States.
At present, Qualcomm, the largest 4G chipset manufacturer in the world, is competing with Chinese companies like Huawei over 5G chipset development.
Mr Cornyn said on Monday he was glad CFIUS chose to review the deal, noting aggression by " rivals, like China".
Broadcom's CEO Hock Tan joined US President Donald Trump in the White House previous year to announce he was moving Broadcom's headquarters to the US from Singapore - a move that appeared created to appease US officials and facilitate future acquisitions.