3 Takeaways From Broadcom's Blocked $117B Qualcomm Bid
Partner Dan Anziska was quoted in a March 13 Law360 story titled, “3 Takeaways From Broadcom's Blocked $117B Qualcomm Bid.” The story points out that the blocked takeover attempt was the first time a potential buyer from a country other than China had a deal blocked by a presidential order and the fifth time a U.S. president has acted on a recommendation from the Committee on Foreign Investment in the United States (“CFIUS”). Anziska is quoted several times throughout the story, saying, “This is definitely a material decision by CFIUS and the publicity, the fact that it was published, I think is sending a signal to the market that CFIUS is focused on foreign transactions and investments that could potentially hinder competition. … Here, there appears to be a macro competition concern, which is, 'Hey, we don't want U.S. wireless companies and communications and handset companies to be reliant on foreign component manufacturing or technology manufacturing for infrastructure systems such as 5G.' And that appears to be a step further, which is a change, which one does not typically see as a rationale for CFIUS to challenge a transaction or recommend to block a transaction.”