Trump blocks Broadcom takeover of Qualcomm
 

Nope, we didn't see that one coming

President Donald (Prince of Orange) Trump has blocked any moves for Broadcom to take over Qualcomm by issuing a presidential order.

Trump's ruling is primarily because Broadcom is now based in Singapore, even though the company had promised to return its HQ to the US by the time of the Qualcomm shareholder meeting where it was expected to try to take its hostile takeover. Broadcom moved to Singapore to save money on US taxes.

The Tame Apple Press is furious because Apple wanted the deal to happen so that it would not have to pay so much to Qualcomm for its licensing.

The tone of the reports of this story by TAPs shows Apple's anger at Trump. Reuters said that Trump was acting on the advice of a "secretive panel" over the tie-up’s threat to US national security. "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", it moaned.

In this case, though the secretive committee was the Committee on Foreign Investment (CFIUS) in the US, which reviews acquisitions of American firms by foreign investors.

"There is credible evidence that leads me to believe that Broadcom Ltd.," by acquiring Qualcomm, "might take action that threatens to impair the national security of the United States", Trump said in the order released Monday evening in Washington.

https://fudzilla.com/news/45800-trum...er-of-qualcomm