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Mar 13, 2018

Trump issues order blocking Broadcom takeover of Qualcomm, citing national security

President Donald Trump issued an order Monday evening blocking any merger of the chipmaking giants Broadcom and Qualcomm, saying it was necessary to protect national security. There is “credible evidence,” the order says, that if the Singapore-based Broadcom took control of the US-based Qualcomm that the company “might take action that threatens to impair the national security of the United States.”

Broadcom has been trying to purchase Qualcomm for the last several months, but has continually been rebuffed. It’s since tried to stack Qualcomm’s board with friendly members. Trump’s order says that Broadcom will not be allowed to purchase or merge with Qualcomm in any way, and that all of the people Broadcom has proposed to Qualcomm’s board...

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