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| (Photo: Gregory Bull, AP) |
70NEWSJAPAN.BLOGSPOT.COM - President Trump has blocked Singapore-based Broadcom's proposed $117 billion takeover of U.S. chipmaker Qualcomm for national security reasons.
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In the order released Monday night, Trump cited "credible evidence" that the takeover "threatens to impair the national security of the United States."
Coming just hours after Broadcom CEO Hock Tan met with security officials at the Pentagon in an effort to save the deal, the order follows an investigation by the Committee on Foreign Investment in the United States, which reviews purchases of American companies by foreign investors. The investigation recommended blocking the deal, citing national security risks.
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Broadcom has pursued a tie-up with its fellow chip maker for months. The takeover, which would have been the largest transaction the technology industry had ever seen, was tripped up by concerns that it posed a threat to American competitiveness in mobile technology by putting one of the largest mobile chip makers in the U.S. under the control of a company based in Asia.
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