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Trump White House blocks Broadcom takeover of Qualcomm

Monday - 12/03/2018 19:53
The Committee on Foreign Investment in the U.S. ordered chipmaker Qualcomm to postpone its annual shareholder meeting for 30 days so that it can investigate its rival Broadcom's $117 bln takover bid for the company. Aleksandra Michalska reports. Video provided by Reuters Newslook

SAN FRANCISCO — President Trump has blocked Singapore-based Broadcom's proposed $117 billion takeover of U.S. chipmaker Qualcomm for national security reasons.

In the order released Monday night, Trump cited "credible evidence" that the takeover "threatens to impair the national security of the United States." 

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