Tuesday 22 January 2019

President Trump blocks Broadcom’s bid for Qualcomm

US president Donald Trump Photo: Reuters
US president Donald Trump Photo: Reuters

Eric Beech

US President Donald Trump issued an order on Monday prohibiting Broadcom proposed takeover of Qualcomm on grounds of national security.

Qualcomm has rebuffed Broadcom's $117bn takeover offer, which is under investigation by the Committee on Foreign Investment in the United States, a multi-agency panel led by the Treasury Department that reviews national security implications when foreign entities take over US corporations.

Reuters

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