Also found in: Financial.
CFIUSCommittee on Foreign Investment in the United States
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The administration did not detail its national security concerns, but CFIUS last week sent a letter to the attorneys of the two companies saying it was concerned research and development at Qualcomm might atrophy under Broadcom's direction, according to a copy that was reviewed by The Washington Post.
And in my view, CFIUS, Secretary Mnuchin leading at the Treasure Department, is right to be extremely cautious and investigate this matter further.
Further, once this re-evaluation is completed, both parties expect to resubmit the application to CFIUS for approval at present.
CFIUS has been wary in the past of semiconductor-related purchases by Chinese interests, because of worries about potential transfers of sensitive technology.
CFIUS already has a reputation for being tough on high-tech deals involving China in particular and has blocked transactions that involve sophisticated semiconductors.
For life and health insurance agents, CFIUS may be best known as a federal agency slowing efforts by China Oceanwide Holdings Group Co.
The grounds for possible CFIUS objections were not immediately clear.
Instead of CFIUS screening commercial transactions, the US export control regime should be updated through multilateral agreement with allies and partner countries.
Inseego believes the CFIUS process will conclude on or prior to July 10, 2017.
The CFIUS review is being watched closely by Monsanto Co, the world's largest seed company, which is deliberating whether it should sell itself to Germany's Bayer AG.
Among the common apprehensions raised by CFIUS are close proximity concerns apparent in a number of high-profile transactions.