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Bank fee potential slashed as Trump ends Broadcom's Qualcomm takeover


By Lynn Adler and Michelle SierraNEW YORK (LPC) - A dozen banks that signed on to provide a record US$100bn bridge loan to back Broadcom Ltd's planned US$117bn takeover of Qualcomm Inc will earn starkly less than planned for extending credit to the chipmaker after US President Donald Trump on Monday blocked the deal over national security concerns.Broadcom in February detailed the jumbo loan, the biggest committed credit package since global brewer AB InBev's US$75bn loan in 2015 that backed its purchase of rival SABMiller, for what would be the technology sector's largest deal ever. The ...

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First Published: Wed, March 14 2018. 02:38 IST