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Broadcom has launched an unsolicited effort to acquire Qualcomm for approximately $117 billion.

Today (7 March), Broadcom issued a pledge to keep the United States at the forefront of emerging mobile technology like 5G if it were to acquire Qualcomm in an effort to dispel worries.

The letter raised red flags about a Broadcom takeover possibly weakening Qualcomm long-term competitiveness in telecommunications technologies and standard setting - opening the door for Chinese companies such as Huawei to become dominant players in upcoming 5G networks.

Qualcomm did not deny seeking a CFIUS review but accused Broadcom of using misleading rhetoric "to trivialize and ignore serious regulatory and national security issues".

The letter was only made public by Qualcomm on Tuesday 6 March and is a rarity as the CFIUS rarely weighs in on deals it is examining.

"While the United States remains dominant in the standards-setting space now, China would likely compete robustly to fill any void left by Qualcomm as a result of this hostile takeover", the letter said.

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Broadcom, based in Singapore, has pledged to move its headquarters to the US, which it believes would remove CFIUS jurisdiction.

Broadcom's proposed takeover of Qualcomm would be the largest deal ever in semiconductors, creating a chip juggernaut with a leading market position in many top chips used in smartphones.

Bloomberg reported Monday that Broadcom's board candidates were getting substantial support from angry Qualcomm shareholders in early voting. The US official who wrote the letter referenced worries about the potential for China to "compete robustly to fill any void left by Qualcomm as a result of this hostile takeover" and noted existing concerns around Chinese companies like Huawei.

In a statement, Broadcom said the Qualcomm takeover is aimed at increasing the company's focus on 5G cellular technologies. In a statement published Wednesday, the company hit back against the CFIUS statement and Qualcomm, while also offering an olive branch to try and appease regulators. Broadcom has not been specific in its plans for patent licensing other than to say the business model is broken. "Limitation or cessation of supply of Qualcomm products or services to the United States government could have a detrimental impact on national security".

The review of the Broadcom deal illustrates the U.S'.

Shares of Qualcomm fell almost 3% in NY trading Tuesday. Both trade on the Nasdaq.

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