Acquisition would have undermined America’s leadership in 5G wireless technology (Infowars) – President Trump has issued an executive order blocking Singapore-based Broadcom’s $117 billion takeover of U. S. chipmaker Qualcomm on national security grounds. The heated battle for ownership of Qualcomm has ended with a presidential decree barring Broadcom
Acquisition would have undermined America’s leadership in 5G wireless technology
(Infowars) – President Trump has issued an executive order blocking Singapore-based Broadcom’s $117 billion takeover of U. S. chipmaker Qualcomm on national security grounds.
Additionally, Reuters reports that the Trump order says all 15 candidate directors proposed by Broadcom are disqualified for Qualcomm board.
Trump’s decision confirms what Hayman Capital’s Kyle Bass explained last week.
Bass explained on CNBC why he didn’t think the U. S. can allow Broadcom’s potential purchase of Qualcomm to go through because of QCOM’s importance to developing 5G technology:
“We can’t possibly let the Broadcom Qualcomm merger go through. We can’t possibly allow that technology and that technological know how” to fall into hands of others.
