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Mon Mar 12, 2018, 07:15 PM

Trump Blocks Broadcoms Bid for Qualcomm.

'President Trump on Monday blocked Broadcom’s $117 billion bid for the chip maker Qualcomm, citing national security concerns and punctuating his administration’s increasingly protectionist stance.

In a presidential order, Mr. Trump said “there is credible evidence” that led him to believe Singapore-based Broadcom’s control of Qualcomm, which is based in San Diego, “might take action that threatens to impair the national security of the United States.”

The extraordinary decision by the president underscored the increasingly protectionist stance his administration has taken in recent weeks to shelter American companies and ward off foreign investment in the United States.

It followed an intervention this month by the Committee on Foreign Investment in the United States, which typically works behind closed doors and reviews deals only after they are announced, to stall the deal because of national security concerns.'>>>


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