A USA national security panel on Sunday ordered Qualcomm to put off its March 6 annual shareholder meeting, delaying a long-awaited showdown in the company's attempt to see off a takeover bid by Broadcom.
In a statement issued today, Broadcom described the CFIUS development as "engagement theater" aimed at deferring the will of the Qualcomm stockholders. Since Qualcomm's board of directors have rejected Broadcom's overtures, a direct appeal to shareholders is the company's last chance to see through the merger.
Regardless of which side one believes, the NYT says the intervention of the USA government before a takeover agreement is even reached is somewhat unusual and reflects "a charged political atmosphere in which scrutiny of takeovers of American companies by global challengers has increased drastically". That would give it a majority on Qualcomm's board.
See stocks near a buy point, get chart pattern recognition and run custom screens.
"It should be clear to everyone that this is part of an unprecedented effort by Qualcomm to disenfranchise its own stockholders", the statement concludes. Qualcomm has so far resisted the unsolicited bid as too low and fraught with regulatory challenges. However, in recent weeks, Qualcomm has become more receptive to Broadcom's proposal - that is if the company can sweeten its offer price and pass regulatory oversight.
US Northeast still facing flooding, outages after killer storm
At its peak, winds had knocked out power to more than 2 million people, including more than 400,000 in MA and 320,000 across NY . The nor'easter's reach extended from ME to North Carolina, where the state's Outer Banks received storm and flood warnings.
"Qualcomm now has their excuse to postpone their critical vote, giving them some breathing room to work on NXPI, attempt to make progress on their Apple licensing issues, and attempt to build a stronger case for shareholders", said Bernstein analyst Stacy Rasgon. Broadcom called the move "a blatant, desperate act", saying that it expected to complete redomiciling by May 6 and claiming that it would not be under CFIUS jurisdiction.
The government committee, which reviews foreign acquisitions of USA assets with an eye toward national-security interests, is led by the Treasury Department and includes officials from the departments of Justice, Defense, Homeland Security and Energy. CFIUS still has to rule on the potential acquisition, of course, but Qualcomm is probably hoping that an outcry against the takeover of state-of-the-art technology by a foreign buyer will force Broadcom to go away.
Qualcomm went on to challenge an assertion that wasn't exactly what Broadcom had asserted.
The New York Times reports that Broadcom only recently learned that Qualcomm filed a voluntary request to the CFIUS for a review of the deal back in January.
Reuters reported last week that CFIUS had begun looking at Broadcom's bid amid growing pressure from lawmakers, including President Donald Trump's fellow Republicans in Congress. Broadcom then reduced its offer for Qualcomm to $79 a share.
This announcement went viral and this morning major supermarkets recalled certain processed meat products country-wide. Woolworths supermarket has urged its customers to return any cold meat products bought from the store for a refund.
He has warned McTominay to expect a "very different" experience playing for Scotland , who have friendlies against Costa Rica on 23 March and Hungary on 27 March in McLeish's first games back in charge.
Cousins is reportedly flexibile when it comes to his next contract because he was so well-paid the last two seasons in Washington. The Redskins' single-season passing yards leader has been linked to teams such as the Denver Broncos and Minnesota Vikings .
Wednesday , it will be sunny with a high near 43, and a northwest wind of 9 to 13 miles per hour , the weather service said. Thursday night , the low will be around 33 with partly cloudy skies, according to the weather service.
Even Ronda Rousey , one of the greatest icons in MMA history, is having a had time with that since getting signed by WWE . The increased ratings will also help WWE's television contract negotiations, which are set to expire next year.
Uber Health's creation was rooted in some alarming statistics about patient care and healthcare client absentee rates. It is publicly available from today in the USA , though there is no word yet on a future rollout in other countries.
Industry regulator Ofwat has criticised water companies for failing to plan for colder weather and ignoring warnings. Essex & Suffolk Water is encouraging customers to keep an eye out for bursts pipes and leaks across the region.
The BJP also appointed Union Ministers Nitin Gadkari and Jual Oram as observers in Tripura, where it scored a stunning victory. Mr Modi said the new Tripura government will be driven by the dreams of the youth and women belonging to the BJP.
On Feb. 23, a woman was arrested after crashing her vehicle into a security barrier near the presidential residence. President Trump was at his Mar-a-Lago resort in Palm Beach, Fla., at the time of the incident.
The BJP knows this better than others, and as in Assam has not let any local party come in the way of pushing its agenda forward. But it would be a mistake to read into the northeastern election results a foregone verdict in favour of the BJP in 2019.
Unfortunately I didn't make the putt, but that's golf", she said. "But I think that has to be the best putt of my career so far". Korda and Kang finished in a four-way tie for second at 16-under, alongside Jenny Shin (65) and Brooke Henderson (67).
Moorfields said the appointment of administrators to run the United Kingdom business would not affect stores in other countries. Toys R Us stores will remain open during the administration process, but the retailer can not refund any returns.
Winds calm for Stadium Series; Leafs vs. Capitals
There were curlers - the US men's Olympic gold medallists - sweeping the game puck to the centre-ice dot on a curling stone. Marner finished the game with them after Tomas Plekanec started as their centre.
Williamson century not enough to see Black Caps home
The duo added 68 runs between them and laid a solid foundation in the chase before the spinners came into operation. Williamson rebuilt the innings in a determined partnership of 96 for the seventh wicket with Mitchell Santner .
Scaramucci tears into 'bad dude' John Kelly
Then On Feb 8, Principal Deputy Press Secretary Raj Shah told reporters this: "His last day was yesterday". A White House official initially denied Scaramucci was blacklisted but later confirmed the reports.
Barcelona vs. Atletico Madrid live stream
The reverse fixture this season saw both teams play out a 1-1 draw, with Suarez scoring late to help break Atletico's resistance. Ernesto Valverde has admitted that he has prepared for Barcelona's meeting with Atletico Madrid as though it's a major final.
Tiger Woods adds another start in Tampa to pre-Masters run
The 42-year-old may be making his debut in the Valspar Championship but has a great record at the Arnold Palmer Invitational. It has become clear that many players on the PGA Tour are pulling for Tiger Woods on this most recent comeback.
Diabetes 'consists of 5 distinct types'
People suffering from diabetes can be divided into five separate groups, not just two, as commonly thought, says a new study . He said that this would lead to more precise diagnosis and treatment of diabetes tailored to individual needs.
World Indoor Championships preview
Muir is missing the Commonwealth Games to concentrate on her exams. "Past year I wanted to but it's always on God's time". New Zealand's Julian Oakley will contest the men's 3000m final at the world indoor athletics championships.