Trump blocks Broadcom Bid to Takeover Qualcomm

- Advertisement -

The US president Donald Trump has blocked Singapore-based telecom giant Broadcom from acquiring Qualcomm Inc, the White-house said in a statement.

“The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited,” President Donald Trump said in an order on Monday.

Broadcom Qualcomm
The logo of Qualcomm is seen during the Mobile World Congress in Barcelona, Spain February 27, 2018.

- Advertisement -

Broadcom has been running all around the place trying to acquire Qualcomm Inc. So much so, the firm has also starting the process of changing it’s domicile from Singapore to the United States.

That move hasn’t budget the US security of state, who are adamant that the acquisition of Qualcomm by the Broadcom will be major setback for the US based chipmaker, leaving the US behind in the race to adoption of 5G networks.

Chinese telecom firms like Hauwei have been seen as a threat to the US security, with the government going so far as to warn the people from buying their devices. This move by president Trump is a severe setback to Broadcom’s efforts to takeover Qualcomm.

- Advertisement -

Broadcom Qualcomm
A sign to the campus offices of chip maker Broadcom Ltd, is shown in Irvine, California, U.S., November 6, 2017.

There is one last route Broadcom could take. After it’s relocation to US as a home company in April, it could fight the president’s order in court after it’s domicile is changed to the US.

- Advertisement -

Broadcom had almost doubled it’s bid in the past to a staggering 100+ billion US$. It’d be interesting to see if it gives up it’s pursuit, or decides to challenge the president order in court.

- Advertisement -
Areej
I love computer hardware and RPGs, and those two things are what drove me to start TechQuila. Other than that most of my time goes into reading psychology, writing (and reading) dark poetry and playing games.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Latest posts

Days Gone PC Features Trailer Shows Unlocked Framerate And More

Sony has now revealed that the PC version of Days Gone will release on May 18, 2021, and has released a trailer showing the new features that will ship with the game.

NVIDIA DLSS Now Available In Major Game Engines With No AMD Alternative In Sight

The magical NVIDIA DLSS technology is now available in most major game engines including Unity and Unreal Engine 4 and continues to rise in adoption with no competitor.

You Can Now Use Google Assistant to Find Your Lost iPhone

Google has announced features coming to Google Assistant, with the most notable feature for Apple users being the ability to locate a lost iPhone...

Next Article Loading