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President Trump stops Broadcom takeover of Qualcomm

Reuters 

(Reuters) - U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd's proposed takeover of Qualcomm Inc on grounds of national security.Qualcomm had rebuffed Broadcom's $117 billion takeover offer, which is under investigation by the U.S. Committee on Foreign Investment in the United States (CFIUS), a multi-agency panel led by the U.S. Treasury Department that reviews national security implications when foreign entities take over U.S. corporations."The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited, and any substantially equivalent merger, ...

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First Published: Tue, March 13 2018. 04:29 IST
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