Trump Blocks Broadcom's $117B Takeover Bid For Qualcomm

Law360 (March 12, 2018, 7:05 PM EDT) -- President Donald Trump on Monday issued an executive order effectively blocking Broadcom Ltd.’s $117 billion takeover bid for California-based Qualcomm Inc., citing national security grounds.

"The proposed takeover of Qualcomm by [Broadcom] is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited," the executive order said. (AP) On recommendation from the Committee on Foreign Investment in the United States, the president found there was “credible evidence” that the Singapore-incorporated Broadcom “might take action that threatens to impair the national...
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