Deals
Trump Blocks Broadcom Takeover of Qualcomm on Security Risks
- U.S. national security officials had opposed Qualcomm sale
- Broadcom CEO made last-ditch bid to save $117 billion takeover
This article is for subscribers only.
President Donald Trump issued an executive order Monday blocking Broadcom Ltd. from pursuing its hostile takeover of Qualcomm Inc., scuttling a $117 billion deal that had been scrutinized by a secretive panel over the tie-up’s threat to U.S. national security.
Trump acted on a recommendation by the Committee on Foreign Investment in the U.S., which reviews acquisitions of American firms by foreign investors. The decision was unveiled just hours after Hock Tan, the chief executive officer of Singapore-based Broadcom, met with officials at the Pentagon in a last-ditch effort to salvage what would have been the biggest technology deal in history.