Donald Trump blocks $150b Qualcomm takeover by Broadcom on national security grounds
7 years ago

Donald Trump blocks $150b Qualcomm takeover by Broadcom on national security grounds

ABC  

United States President Donald Trump has blocked the $US117 billion takeover of the nation's leading 5G mobile communications developer by Singapore-based technology giant Broadcom, citing national security fears. Key points: Donald Trump blocks the world's most expensive technology company takeover over on "national security" grounds Broadcom was attempting to buy the Qualcomm for $150 billion Mr Trump has already used the foreign investment veto twice in the past 12 months, compared to the three times it was used by previous presidents Mr Trump said there was credible evidence that lead him to believe that Broadcom's pursuit of US's biggest microchip maker Qualcomm "threatens to impair the national security". "A shift to Chinese dominance in 5G would have substantial negative national security consequences for the United States," a CFIUS official wrote in a letter to Broadcom management. The blocking of the deal also comes just months after Mr Trump stood next to Broadcom chief executive Hock Tan at the White House, announcing the company's decision to move its headquarters to the United States and calling it "one of the really great, great companies".

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History of this topic

Chipmaker Broadcom is in talks to buy cybersecurity company Symantec: Report
5 years, 8 months ago

Chipmaker Broadcom is in talks to buy cybersecurity company Symantec: Report

Firstpost  

A deal would expand Broadcom’s push into software a year after its $18.9 billion deal to buy US business software company CA Inc Chipmaker Broadcom Inc is in advanced talks to buy cybersecurity firm, Symantec Corp, according to sources familiar with the matter, as Broadcom seeks to diversify beyond semiconductors. A deal would expand Broadcom’s push into software a year …

Trump administration to continue Huawei 5G marketing ban
5 years, 8 months ago

Trump administration to continue Huawei 5G marketing ban

India TV News  

The White House has said that Chinese tech giant Huawei will remain banned from developing its 5G wireless networks in the US, although US firms will be allowed to sell small components such as chips to the Chinese company. Also, read: PUBG Lite Beta launching on July 4 for low-end PCs and laptops in India In an interview with CNBC …

Broadcom sales would see $2 billion knocked off thanks to US-China trade war
5 years, 9 months ago

Broadcom sales would see $2 billion knocked off thanks to US-China trade war

Firstpost  

Broadcom is known for communications chips that power Wi-Fi, Bluetooth and GPS connectivity. Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that US-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year. “We’ll see a very sharp impact simply because no …

Trump: China will approve $44 billion Qualcomm merger
6 years, 3 months ago

Trump: China will approve $44 billion Qualcomm merger

CNN  

New York CNN Business — President Donald Trump says China is willing to approve a major merger between American chip maker Qualcomm and rival NXP. A victim of tension between the United States and China, Qualcomm and NXP had waited forregulatory approvals for nearly two years before Xi’s administration let the clock run out. Trump and Chinese President Xi Jinping …

Trump govt to block China Mobile in the US citing national security risks
6 years, 8 months ago

Trump govt to block China Mobile in the US citing national security risks

Firstpost  

The United States is set to impose tariffs on $34 billion worth of goods from China on July 6. The US government moved on 2 July to block China Mobile from offering services to the US telecommunications market, recommending its application be rejected because the government-owned firm posed national security risks. The Federal Communications Commission should deny China Mobile’s 2011 …

Broadcom successfully completes move back to the United States from Singapore
6 years, 11 months ago

Broadcom successfully completes move back to the United States from Singapore

Firstpost  

Broadcom, which was a U.S. company until it was bought in 2016 by Singapore’s Avago, had announced its plan to redomicile on 2 November. Broadcom Inc said on Wednesday it had completed its move back to the United States from Singapore, weeks after President Donald Trump blocked its $117 billion offer to buy Qualcomm Inc on national security grounds. Broadcom, …

Broadcom unlikely to slow down its acquisition of Qualcomm despite Trump blocking it for national security reasons
7 years ago

Broadcom unlikely to slow down its acquisition of Qualcomm despite Trump blocking it for national security reasons

Firstpost  

Most analysts assume Broadcom will now walk away from Qualcomm, with some flagging San Jose-based Xilinx Inc and Israel’s Mellanox Technologies. Broadcom Ltd Chief Executive Hock Tan is unlikely to slow his acquisition spree after U.S. President Donald Trump blocked the microchip maker’s $117 billion bid for Qualcomm Inc on national security grounds, analysts said on Tuesday. Most analysts assume …

Wall Street spooked by Trump sacking Tillerson, tech stocks slide
7 years ago

Wall Street spooked by Trump sacking Tillerson, tech stocks slide

ABC  

Wall Street ended its day sharply lower, weighed down by US President Donald Trump's decision to sack his Secretary of State, Rex Tillerson. Markets at 7:15am : ASX SPI 200 futures -0.6pc, ASX 200 -0.4pc at 5,975 AUD: 78.54 US cents, 56.23 British pence, 63.39 Euro cents, 83.7 Japanese yen, $NZ1.07 US: Dow Jones -0.7pc at 25,007, S&P 500 -0.6pc …

Fear of China Scuttles Deal That Didn't Involve China
55 years, 2 months ago

Fear of China Scuttles Deal That Didn't Involve China

Wired  

President Donald Trump blocked Broadcom's proposed $105 billion acquisition of fellow wireless chip giant Qualcomm on Monday amidst mounting fears that US could fall behind China on technology innovation. And in November, Broadcom CEO Hock Tan announced that the company would move its main office back to the US---while standing next to Donald Trump during a press conference at the …

Donald Trump is the toast of Scandinavia’s boardrooms
7 years ago

Donald Trump is the toast of Scandinavia’s boardrooms

Live Mint  

London: Donald Trump was the toast of Nordic boardrooms on Tuesday morning, after he blocked Broadcom Ltd.’s proposed acquisition of Qualcomm Inc. Telecoms equipment giants Nokia Oyj and Ericsson AB depend on Qualcomm for crucial chipsets used in their networks. Should Qualcomm’s designs fall behind, that would threaten the Scandinavians’ ability to keep pace with Huawei and, increasingly, Samsung. The …

Donald Trump blocks Broadcom's proposed takeover of Qualcomm on grounds of national security
7 years ago

Donald Trump blocks Broadcom's proposed takeover of Qualcomm on grounds of national security

Firstpost  

San Diego-based Qualcomm has emerged as one of the biggest competitors to China’s Huawei Technologies Co in the sector, making Qualcomm a prized asset. US President Donald Trump on Monday blocked semiconductor maker Broadcom Ltd’s proposed takeover of Qualcomm on grounds of national security, ending what would have been the technology industry’s biggest deal ever. Qualcomm had earlier rebuffed Broadcom’s …

Qualcomm delays annual shareholder meet and a showdown with Broadcom after US national security panel steps in
7 years ago

Qualcomm delays annual shareholder meet and a showdown with Broadcom after US national security panel steps in

Firstpost  

Separately, Broadcom said the decision was the result of secret moves made by Qualcomm on 29 January to encourage an investigation into the proposed $117 billion buyout offer. A US national security panel on Sunday ordered Qualcomm to put off its 6 March annual shareholder meeting, delaying a long-awaited showdown in the company’s attempt to see off a takeover bid …

Qualcomm rejects Broadcom acquisition offer, setting up $103 billion proxy fight
7 years, 4 months ago

Qualcomm rejects Broadcom acquisition offer, setting up $103 billion proxy fight

Live Mint  

San Francisco: Qualcomm Inc. rejected Broadcom Ltd’s $105 billion acquisition offer, kicking off what would be the largest technology takeover battle in history. “It is the board’s unanimous belief that Broadcom’s proposal significantly undervalues Qualcomm relative to the company’s leadership position in mobile technology and our future growth prospects,” said Paul Jacobs, executive chairman and chairman of the board of …

Broadcom offers $105 billion for Qualcomm in landmark deal
7 years, 4 months ago

Broadcom offers $105 billion for Qualcomm in landmark deal

Live Mint  

San Francisco: Broadcom Ltd offered about $105 billion for Qualcomm Inc., kicking off an ambitious attempt at the largest technology takeover ever in a deal that would rock the electronics industry. The lawsuit may prompt Apple to stop buying Qualcomm chips for use in the iPhone and other products, which would deal a major blow to a unit that drives …

'Qualcomm fine' shadow looms over TPP talks[1]- Chinadaily.com.cn
10 years, 1 month ago

'Qualcomm fine' shadow looms over TPP talks[1]- Chinadaily.com.cn

China Daily  

Qualcomm Inc's decision to pay a record fine of $975 million for antitrust violations in China is likely to increase trade tensions and hamper negotiations on a key trade pact in the Asia-Pacific region, experts said on Tuesday. The "unfair" and "excessively high" royalties Qualcomm collected from Chinese smartphone makers were the key factors that led to the historic fine, …

For Qualcomm, China settlement may be just the beginning
10 years, 2 months ago

For Qualcomm, China settlement may be just the beginning

Firstpost  

The settlement of China’s anti-trust probe into Qualcomm is likely to intensify global scrutiny of the firm’s highly profitable patent licensing business The settlement of China’s anti-trust probe into Qualcomm is likely to intensify global scrutiny of the firm’s highly profitable patent licensing business, and may even call into question its worldwide contracts with smartphone makers such as Apple and …

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