Government (CFIUS) stepped in

Broadcom and Qualcomm are fighting for positions on the board as this is currently Broadcom’s only chance to win its hostile takeover of Qualcomm. Qualcomm is very clear that it doesn’t like the $79 offer that it thinks undervalues the company and has rather justified regulatory agency concerns. Now the US government Committee on Foreign Investment in the United States (CFIUS) has got involved and ordered Qualcomm to postpone the shareholder meeting for a month.