President Trump today issued an order prohibiting Broadcom’s proposed take over of Qualcomm on national security grounds. The President cited “credible evidence” that leads him to believe that Broadcom (a company organized under Singaporean laws) “might take action that threatens to impair the national security of the United States.”
The order did not elaborate on the national security concerns but according to the Washington Post, the Committee on Foreign Investment in the United States (CFIUS), sent a letter to attorneys for each of the companies last week expressing concern that research and development at Qualcomm might atrophy under Broadcom’s direction.
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