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Broadcom to end bid for Qualcomm, keeps plan to move to U.S. - sources

Reuters 

By Greg Roumeliotis and Liana B. Baker(Reuters) - Singapore-based Broadcom Ltd is planning to scrap its bid for Qualcomm Inc , after U.S. President Donald Trump blocked the chipmaker's proposed acquisition on national security grounds earlier this week, although it will press on with its plan to move its base to the United States, according to sources familiar with the matter.Broadcom's board was meeting on Tuesday night to formalize its plans and it could make an announcement as soon as Wednesday, the two sources added. The company will also drop its challenge to Qualcomm's board, the people ...

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First Published: Wed, March 14 2018. 08:20 IST
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