Posted by rgmekanic 7:35 PM (CDT)
Monday March 12, 2018
The Washington Post is reporting that President Trump has issued a Presidential Order for Broadcom to abandon it's hostile bid to acquire Qualcomm. In the order President Trump cited "credible evidence" that the takeover "threatens to impair the national security of the United States." Last week the Committee on Foreign Investment called the takeover a National security risk, and was launching an investigation.
One factor that may have pushed CFIUS to move quickly was a unusual maneuver by Broadcom to relocate to the United States. The company had said in a recent corporate filing that it was finalizing its plans to become an American entity in early April. Deals between American companies fall out of CFIUS' jursidiction.