Qualcomm Saved by President Trump

President Donald Trump killed Broadcom's proposed hostile takeover of Qualcomm citing national security concerns. The order from the White House tells both companies they must immediately abandon the deal. The order also disqualifies Broadcom's board members from standing for election to Qualcomm's board. Singapore-based Broadcom's $117 billion takeover bid of Qualcomm earlier roused concerns of the Committee on Foreign Investment in the U.S. that the acquisition would damage the San Diego company's competitive edge in 5G technology against China.

No corresponding comment