SoylentNews

takyon [soylentnews.org] writes:

Broadcom [wikipedia.org]'s quest [soylentnews.org] to acquire Qualcomm [wikipedia.org] has come to a screeching halt [nytimes.com]:

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 [treasury.gov], 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 [nytimes.com]. 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 [wikipedia.org] has just put a lot of companies on notice.

Also at CNN [cnn.com] and LA Times [latimes.com].

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

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

Original Submission