Trump blocks Broadcom’s $117 billion bid for Qualcomm out of national security concerns

Trump blocks Broadcom’s $117 billion bid for Qualcomm out of national security concerns, a highly unusual move
 
 by Hamza Shaban March 12 at 7:02 PM
 

President Trump Monday ordered Singapore-based Broadcom to abandon its $117 billion hostile bid for Qualcomm, blocking what would have been one of the biggest technology deals in history.

In his presidential order, Trump cited “credible evidence” that the takeover “threatens to impair the national security of the United States.” The merger would have put one of America’s largest mobile chipmakers in the hands of a company based in Asia, a region that has been racing to develop the next generation of mobile technology.

 

https://www.washingtonpost.com/news/the-switch/wp/2018/03/12/trump-blocks-broadcoms-117-billion-bid-for-qualcomm-out-of-national-security-concerns-a-highly-unusual-move/?utm_term=.c6d4f213daaf

 

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