Broadcom says will not sell national security assets to foreign firms

(Reuters) – Broadcom Ltd (AVGO.O) 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 (QCOM.O) is approved.

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.

http://feeds.reuters.com/~r/reuters/businessNews/~3/4Rm6s1E-7f4/broadcom-says-will-not-sell-national-security-assets-to-foreign-firms-idUSKCN1GL1N0