Thursday 24 May 2018

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

Business Newsletter

Read the leading stories from the world of Business.

Also in Business