Government halts an acquisition deal for national security reasons
U.S. President Donald Trump issued an order to block the planned takeover of Qualcomm Inc., a microchip firm, by Broadcom (Singapore). With a value of $ 117 billion, the acquisition of Qualcomm would have been the biggest deal in the technology industry ever. The President took his decision pursuant to section 721 of the Defense Production Act of 1950, which authorizes him to prohibit acquisitions that affect the national security.
Type: Entry and establishment (Ownership and control)
Industry: Manufacturing (Manufacture of computer, electronic and optical products, and electrical equipment)
- White House, Presidential Order Regarding the Proposed Takeover of Qualcomm Incorporated by Broadcom Limited, Mar 12, 2018