Australia's largest stock trading and investment forum Australia's #1 stock forum

Trump blocks Broadcom's $117 billion takeover bid for Qualcomm

Share
Profile

Follow
retiredyoung

3,423 Posts.

151

14/03/18

07:24

Post #: 31732975
Share

President Donald Trump blocked Singapore chipmaker Broadcom from pursuing a hostile takeover of U.S. rival Qualcomm, ruling the proposed combination would imperil national security.

Expand

The Trump administration nevertheless balked at the prospect of a prominent U.S. chipmaker being owned by a foreign company, particularly at a time countries around the world are gearing up to build ultra-fast "5G" mobile networks that could tip the balance of power in technology.

Expand

Trump decided to squelch Broadcom's bid on the recommendation of the Committee on Foreign Investment in the United States, which reviews foreign purchases of U.S. entities.

Expand

The decision didn't come as a surprise. Earlier this month, the committee branded the proposed deal a potential security risk that could hobble the U.S.'s ability to make the smooth and quick transition to 5G.

Expand

https://finance.nine.com.au/2018/03...17-billion-broadcom-takeover-bid-for-qualcomm
1 Upvote

0 Great analysis

Reply

Top Stories

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

HMI

Global Lithium up 13% as it joins the ranks of battery metal players pivoting to gold

OAR

Chris Judd's Talk Ya Book: Orthocell building on 'enormous potential' with steady growth - and US push to come