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Broadcom Drops Qualcomm Bid, Pledges to Pursue U.S. HQ

  • Trump blocked the acquistion on national security grounds
  • Deal would have been the largest in technology industry
Bloomberg business news

How Trump's Nixing of Broadcom's Bid for Qualcomm Will Affect M&A

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Even as Broadcom Ltd. formally abandoned a bid to buy Qualcomm Inc., the chipmaker said it still planned to switch its domicile from Singapore to the U.S.

Broadcom had first pledged to move its headquarters to the U.S. in November -- a move that appeared designed to appease U.S. officials and persuade them to bless acquisitions. Now that President Donald Trump has blocked the Qualcomm deal, the Singapore chipmaker could still pursue smaller deals in the U.S., analysts say.