President Donald Trump killed Broadcom’s proposed buyout of Qualcomm, citing national security concerns, according to a statement issued by the White House on Monday.
“There is credible evidence that leads me to believe that Broadcom Limited, a limited company organized under the laws of Singapore (Broadcom)…through exercising control of Qualcomm Incorporated (Qualcomm), a Delaware corporation, might take action that threatens to impair the national security of the United States,” the statement said.
An unprecedented move from an unprecedented president.
The rationale and “national security” issue at hand; the fear of a Chinese dominated 5G network in the US, albeit Broadcom a Singaporean incorporated company.
Source: Trump blocks Broadcom-Qualcomm deal, citing national security concerns