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takyon writes:

Broadcom's quest to acquire Qualcomm has come to a screeching halt:

President Trump on Monday blocked Broadcom's $117 billion bid for the chip maker Qualcomm, citing national security concerns and sending a clear signal that he was willing to take extraordinary measures to punctuate his administration's increasingly protectionist stance. In a presidential order, Mr. Trump said there was "credible evidence" that led him to believe that if Singapore-based Broadcom were to acquire control of Qualcomm, which is based in San Diego, it "might take action that threatens to impair the national security of the United States."

[...] The move follows one by the Committee on Foreign Investment in the United States, which typically works behind closed doors and reviews deals only after they are announced, earlier this month to stall Broadcom's bid because of national security concerns. [...] The president said his decision had been based on the review by the committee, which focused on how Broadcom's purchase of Qualcomm might affect next-generation high-speed mobile networks known as 5G. The panel said that the leadership of Qualcomm, which makes wireless chips and also licenses key wireless patents, was too important to put into hands of a company with links to China. The committee argued that economic leadership in 5G was also a national security interest.

The Committee on Foreign Investment in the United States has just put a lot of companies on notice.

Also at CNN and LA Times.

Previously: Broadcom's Hostile Takeover Attempt of Qualcomm Delayed by U.S. Government Panel
Broadcom Pleads its Qualcomm Case to Congress

Related: President Trump Blocks Acquisition of Lattice Semiconductor
U.S. Lawmakers Urge AT&T to Cut Ties With Huawei
U.S. Government Reportedly Wants to Build a 5G Network to Thwart Chinese Spying
U.S. Rejects Chinese Takeover of the Chicago Stock Exchange

Original Submission

1. "takyon" - https://soylentnews.org/~takyon/
2. "Broadcom" - https://en.wikipedia.org/wiki/Broadcom
3. "quest" - https://soylentnews.org/search.pl?tid=&query=broadcom+qualcomm&author=&sort=1&op=stories
4. "Qualcomm" - https://en.wikipedia.org/wiki/Qualcomm
5. "come to a screeching halt" - https://www.nytimes.com/2018/03/12/technology/trump-broadcom-qualcomm-merger.html
6. "Committee on Foreign Investment in the United States" - https://www.treasury.gov/resource-center/international/Pages/Committee-on-Foreign-Investment-in-US.aspx
7. "next-generation high-speed mobile networks known as 5G" - https://www.nytimes.com/2018/03/06/technology/companies-countries-battling-5g.html
8. "Committee on Foreign Investment in the United States" - https://en.wikipedia.org/wiki/Committee_on_Foreign_Investment_in_the_United_States
9. "CNN" - http://money.cnn.com/2018/03/12/news/companies/trump-qualcomm-broadcom-deal/index.html
10. "LA Times" - http://www.latimes.com/business/technology/la-fi-tn-silicon-valley-china-20180312-story.html
11. "Broadcom's Hostile Takeover Attempt of Qualcomm Delayed by U.S. Government Panel" - https://soylentnews.org/article.pl?sid=18/03/06/1521254
12. "Broadcom Pleads its Qualcomm Case to Congress" - https://soylentnews.org/article.pl?sid=18/03/10/1411239
13. "President Trump Blocks Acquisition of Lattice Semiconductor" - https://soylentnews.org/article.pl?sid=17/09/14/1144232
14. "U.S. Lawmakers Urge AT&T to Cut Ties With Huawei" - https://soylentnews.org/article.pl?sid=18/01/17/1513246
15. "U.S. Government Reportedly Wants to Build a 5G Network to Thwart Chinese Spying" - https://soylentnews.org/article.pl?sid=18/01/29/2317206
16. "U.S. Rejects Chinese Takeover of the Chicago Stock Exchange" - https://soylentnews.org/article.pl?sid=18/02/17/0033244
17. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=25318

printed from SoylentNews, Broadcom's Attempted Acquisition of Qualcomm Blocked on National Security Grounds on 2024-10-13 18:03:41