Trump Blocks Broadcom’s Bid for Qualcomm


Broadcom had been trying for months to buy Qualcomm, and announced that it would relocate to the United States from Singapore to help win approval of the deal.

WASHINGTON — 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 decision underscored the lengths that the president is willing to go to shelter American companies and ward off foreign investment in the United States. In recent weeks, he has turned to an arsenal of tools — including tariffs and an obscure government panel that reviews foreign investments — to protect American industries and to thwart the rise of China in particular.

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.

Hock Tan, Broadcom’s chief executive, speaking alongside President Trump at the White House in November. Days later the company announced that it wanted to buy Qualcomm.

Last week, Mr. Trump also

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Exec Chairman & Founder at oneQube
Exec Chairman & Founder of oneQube the leading audience development automation platfrom. Entrepreneur, top 100 most influential angel investors in social media who loves digital innovation, social media marketing. Adventure travel and fishing junkie.
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