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Old 03-12-2018, 06:01 PM   #1
SRTDodge05
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Broadcom takeover of Qualcomm Blocked

SAN FRANCISCO President Trump has blocked Singapore-based Broadcom's proposed $117 billion takeover of U.S. chipmaker Qualcomm for national security reasons.

An investigation by the Committee on Foreign Investment in the United States, which reviews purchases of American companies by foreign investors, had cited national security risks.

The presidential block brings to an end Broadcom's months-long pursuit of its fellow chip maker that was tripped up by concerns that the takeover, which would have been the largest transaction in the technology industry, posed a threat to American competitiveness. Broadcom, currently headquartered in Singapore, is in the process of relocating its legal headquarters to the United States in an effort to assuage those concerns.

"The Purchaser and Qualcomm shall immediately and permanently abandon the proposed takeover," the president's order says.

Trump White House blocks Broadcom takeover of Qualcomm
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