Trump Blocks Broadcom's Qualcomm Acquisition
The White House issued an order late Monday blocking Broadcom from acquiring Qualcomm for $117 billion.
"The proposed takeover of Qualcomm by the Purchaser [Broadcom] is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited," the White House said in a statement Monday.
The White House imposition shortly follows the annoucement of a CFIUS national security review of the proposed buyout. (See Broadcom Speeds US Return to Strengthen Qualcomm Bid.)
This appears to represent the end of Broadcom's multi-billion dollar bid to buy Qualcomm, which the board of the San Diego-based cellular silicon giant has always resisted.
Meanwhile, Intel is reportedly looking into buying Broadcom. (See Intel Could Bid for Broadcom – WSJ Report.)
— Dan Jones, Mobile Editor, Light Reading