Wednesday, March 14, 2018

Broadcom Formally Drops Offer For Qualcomm

Broadcom has formally withdrawn its offer for San Diego-based Qualcomm, the company announced today, saying that--despite the Presidential order that killed its proposed deal to acquire Qualcomm, it will continue to move foward with its redomiciliation process. President Trump made a surprise move on Monday, shutting down the proposed acquisition of Qualcomm by Broadcom, saying that the deal would be a "threat to national security". Broadcom said it has formally withdrawn its slate of independent director nominees to Qualcomm.