U.S. President Donald Trump blocks $140 Billion Qualcomm bid

US President Donald Trump has obstructed an arranged takeover of chipmaker Qualcomm by Singapore-based rival Broadcom in light of grounds of national security.

His order cited “credible evidence” that the proposed $140bn (£100bn) takeover “threatens to impair the national security of the US”.

Qualcomm was at that point endeavoring to battle off Broadcom’s offered.

Broadcom said it unequivocally differ that its proposed takeover gave any reason for concern.

The deal would have created the world’s third-biggest creator of microchips, behind Intel and Samsung.

It would likewise have been the greatest takeover the innovation segment had ever observed.

The presidential order said: “The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited.”

News Reporter
BBA Graduate with a keen interest in writing. Mainly covering the hustle and bustle going on with various industries in different markets all over the world.

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