Broadcom says will not sell national security assets to foreign firms


(Reuters) – Broadcom Ltd said in a letter to U.S. Congress on Friday that it will not sell any critical national security assets to any foreign companies if its $117 billion deal to buy chipmaker Qualcomm Inc is approved.

FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake

U.S. Republican lawmakers on Monday backed a U.S. panel’s decision to delay Qualcomm’s shareholder meeting to allow for a more extensive review of Broadcom’s takeover bid.

“Qualcomm’s work is too important to our national security to let it fall into the hands of a foreign company — and in a hostile takeover no less,” Senator Tom Cotton, a vocal Republican voice on foreign policy, had said.

Reporting by Arjun Panchadar in Bengaluru; Editing by Saumyadeb Chakrabarty

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