Trump Puts the Kibosh On Broadcom's Qualcomm Bid
President Trump today issued an order that prevents Broadcom from purchasing Qualcomm. Trump cited national security as his reason behind the order. "The proposed takeover of Qualcomm by the Broadcom is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited," said the president. Trump suggested there was credible evidence that the deal "might take action that threatens to impair the national security of the United States." Qualcomm has so far rebuffed Broadcom's efforts, chiefly citing sale price. The proposal was under CFIUS review, given Broadcom's status as a foreign company. Broadcom is in the process of repatriation, but it doesn't expect to complete the process until early April. Broadcom did not immediately comment on the President's order.
US Intervenes In Vote, Wants to Review Qualcomm-Broadcom Deal
Mar 5, 2018
The U.S. government ordered Qualcomm to cancel a vote scheduled for Tuesday to allow the government more time to review a potential merger between Qualcomm and Broadcom.
Broadcom Now Says It Will Be a US Company By April 3
Mar 12, 2018
Broadcom has accelerated its plans to repatriate to the United States. The company today said its efforts to redomicile should be completed by April 3, rather than May 6.
Broadcom Makes More Promises to Appease US Regulators
Mar 9, 2018
Broadcom today said it won't sell anything considered a "critical national security asset" to foreign buyers if its proposed purchase of Qualcomm is approved by U.S. regulators.
Trump Tasks CFIUS to Keep China Investments In Check
Jun 27, 2018
The Trump administration has backtracked a bit on planned restrictions to Chinese investment in U.S. technology firms.