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Trump blocks Broadcom’s $117 billion takeover of Qualcomm with executive order

Trump blocks Broadcom’s $117 billion takeover of Qualcomm with executive order

President Trump issued an executive order late Monday that blocks Broadcom, a Singapore-based semiconductor firm, from taking over San Diego-based Qualcomm. The deal had already been under scrutiny from US regulators and lawmakers, who saw the foreign acquisition of Qualcomm as a national security threat.

According to Bloomberg, Trump acted on a recommendation from the Committee on Foreign Investment in the United States (CFIUS), which reviews foreign acquisitions of American firms. Broadcom is in the process of inverting its headquarters to the United States to get around CFIUS scrutiny.