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Illustration: Sarah Grillo/Axios

Senator Rand Paul (R-Ky.) on Wednesday called for a federal national security review of Broadcom's proposed $19 billion acquisition of Computer Associates Technologies (CA) during a Senate hearing on homeland security.

The bottom line: Sources tell Axios that neither Broadcom nor CA asked for a review of their transaction by the Committee on Foreign Investment in the U.S., but that some within the defense and energy communities have been agitating for a CFIUS review anyway. Paul's public call might move the needle.

The backdrop:

  • President Trump in March blocked Broadcom's attempted purchase of Qualcomm, citing national security concerns around 5G networking and Broadcom's manufacturing and customer ties to China.
  • Broadcom has since redomiciled from Singapore to California.
"Earlier this year CFIUS intervened to block Broadcom from acquiring Qualcomm on national security concerns. Now Broadcom is about to complete acquisitions of Computer Associates Technologies, also known as CA Technologies, whose network systems are deeply embedded in many of our critical infrastructure facilities and national security agencies. For example, 60% of us electric companies are serviced by companies using CA systems. Similarly their systems are used in 29 nuclear reactors. Is CFIUS reviewing this transaction...
We will send you a letter advocating that CFIUS looks at this... Just because Broadcom has changed its domicile to [the U.S.] doesn't mean we shouldn't look at Broadcom."
— Statement from Rand Paul

Update: Broadcom pushes back, cites "fraudulent" memo

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Why it matters: That puts us on track to hit President Biden's goal of 100 million doses a month ahead of schedule.

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The state of play: Sen. Ron Johnson (R-Wis.) is forcing the Senate clerk to read the entire 628-page bill on the floor, a procedural move that will likely add 10 hours to the 20 hours already allotted for debate.

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Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.