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.

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