Tuesday, March 13, 2018

Trump Blocks Broadcom's Acquisition Of Qualcomm, Citing National Security

In a surprise move, President Trump issued an order late Monday evening, blocking the proposed takeover of San Diego-based Qualcomm by Broadcom, citing national defense--despite Broadcom's efforts to relocate its headquarters back to the United States. In a statement, the White House said that the proposed takeover of Qualcomm would "impair the national security of the United States" and the move was made to "protect the national security" of the US. Broadcom is currently headquartered in Singapore. Broadcom had proposed to pay more than $130 billion for Qualcomm in the giant takeover.