Broadcom withdraws Qualcomm offer after Trump blocks bid

Image source Gareth Halfacree via Flickr

The New York Times editorial board agrees with President Donald Trump's decision to block the massive acquisition of USA -based Qualcomm by a foreign company, according to an editorial Wednesday.

Trump's order echoed that concern, saying a takeover by Broadcom "threatens to impair the national security of the United States".

The company has also withdrawn its nominees for the Qualcomm board.

The CFIUS had concluded that Broadcom's proposed takeover of Qualcomm could pose a risk to the national security of the US, the Treasury Department said in a letter last week. Further, the agency is also concerned that the deal could prove a setback for the U.S.in the development of 5G technology, and at the same time, gives an edge to China.

The editorial board notes, however, that Trump could use his authority to block foreign acquisitions of USA companies to further protectionist aims. Qualcomm quickly spurned its unsolicited suitor and continued to resist even after Broadcom raised its original offer from $103 billion.

A Broadcom-Qualcomm merger would create a new and powerful rival in two areas that Intel is banking on for future revenue growth: smartphone processors and data centers, according to the Journal.

Further, Donald Trump ordered that both Qualcomm and Broadcom must "immediately and permanently abandon the proposed takeover".

Set location-based reminders with your voice on Google Home
There's also a dedicated website with the list of commands available for Google Assistant in Hindi . During 2017, Google launched the Assistant in Hindi the instant-messaging platform Allo.

Trump had instructed Broadcom to back off after a US panel charged with reviewing foreign acquisitions of domestic companies suggested that the deal could impede American technological competitiveness.

"This decision is based on the facts and national security sensitivities related to this particular transaction only and is not meant to make any other statement about Broadcom or its employees, including its thousands of hard working and highly-skilled U.S. employees", Broadcom said.

"Let me say unequivocally, President Trump and his administration made the right decision on blocking Broadcom from taking over Qualcomm", Schumer said in a Senate floor speech Tuesday. After Qualcomm rejected the offer, Broadcom launched a proxy contest seeking to control the Qualcomm board.

The US president argued that the operation, which could have been the largest in the technology sector, "threatened to harm US national security". Regardless, the company has said they have no plans to oppose Trump's decision.

In a letter, the CFIUS had confirmed the national security concerns.

Broadcom has said it will move its headquarters to the U.S.by April. In September, Trump blocked a Chinese state-owned company from acquiring an American semiconductor firm.

Related News:

  • Malcolm Butler signing with Titans

    Malcolm Butler signing with Titans

    Teammates nicknamed him "Strap" because of his ability to closely cover receivers and also "Scrap" for his scrappy style of play. The New Orleans Saints pursued Butler as a restricted free agent previous year , but the trade price was too high.
    Met Opera fires James Levine

    Met Opera fires James Levine

    Cleary, now a partner at Proskauer Rose, to head its investigation, and the company said more than 70 people were interviewed.
    Weekend Box Office: Wrinkle Wrinkle Little Star

    Weekend Box Office: Wrinkle Wrinkle Little Star

    Paramount's third weekend of sci-fi horror movie " Annihilation " came in eighth with $3.3 million at 1,709 screens. The final new-release debut of the weekend , The Hurricane Heist , debuted at number eight with $3.2 million.
  • Carragher suspended by Sky Sports after spitting 'moment of madness'

    Carragher suspended by Sky Sports after spitting 'moment of madness'

    It won't happen again. "I apologise because I know that will put a lot of my supporters' families and friends in a hard position. Carragher says he was "goaded" but also admitted he was "totally out of order" and has apologised to the family.
    Texas AG praises 5th Circuit ruling to uphold state's sanctuary cities law

    Texas AG praises 5th Circuit ruling to uphold state's sanctuary cities law

    Perhaps more importantly, it forbids any municipality from banning law enforcement cooperation with federal immigration laws. The American Civil Liberties Union, which represented some of the plaintiffs, said it is exploring its legal options.
    Fitbit Ace kids wearable helps parents track activity levels

    Fitbit Ace kids wearable helps parents track activity levels

    There's also the option of a $229.95 Versa "Special Edition" in the US which includes NFC and supports Fitbit Pay. Versa was created to be more versatile on different exercises with an automatized and improved activity tracker.
  • Criminal investigation launched into dog's death on USA  flight

    Criminal investigation launched into dog's death on USA flight

    How a trained flight attendant could insist that a dog be put into an overhead bin is beyond my comprehension. The dog flew from OR to Denver, where he spent the night. "I don't think anyone should fly with them".
    Man wanted for questioning in officer's death arrested

    Man wanted for questioning in officer's death arrested

    The 35-year-old officer was killed March 13 while patrolling the Hurricane Creek area with a state trooper. Hall is sought for questioning in connection to Hamilton's shooting death late Tuesday night.
    Trump to host Saudi Crown Prince

    Trump to host Saudi Crown Prince

    General Qahtani was a top aide to Prince Turki bin Abdullah, a son of the late King Abdullah and a former governor of Riyadh . Numerous detainees have been released so far after forking out exorbitant amounts reaching as high as one billion dollars.
  • The official trailer for documentary

    The official trailer for documentary "The Director and The Jedi"

    While speaking on a panel at SXSW , Hamill said former President Barack Obama influenced the "dirt off your shoulder" movement. The Last Jedi + Bonus bundles are still live in the Microsoft Store and cost the exact same amount of money.
    Bitcoin's Move Towards $10000 Mark Is Thwarted By Google's Ban

    Bitcoin's Move Towards $10000 Mark Is Thwarted By Google's Ban

    Cryptocurrencies are known to be notoriously volatile, so some governments are working to clamp down on the digital money. Right now, Google queries for terms like " binary options " and "buy bitcoin" produce four ads at the top of the results.
    Oklahoma to resume executions using nitrogen gas

    Oklahoma to resume executions using nitrogen gas

    Lockett kicked, writhed and grimaced for 20 minutes before his execution was called off; he died of a heart attack not long after. A spokeswoman for Hunter declined to comment on when executions might resume following a three-year hiatus.


Most liked

UGA names Crean as new head coach
But three big names immediately surfaced as potential candidates to replace Fox, including former IN coach Tom Crean. In 10 seasons from 1989-99, Crean was a member of the staffs at Michigan State, Western Kentucky and Pittsburgh.

Tiger opens strong at Bay Hill in key Masters tuneup
He was the best at that. "I think if he can be healthy, I do think he's mentally strong enough to be competitive". Woods played Thursday morning and overcame a tee shot that was out-of-bounds by inches.

Mother: Class continued after teacher fired gun
The gun was pointed towards the ceiling when it fired causing pieces of the ceiling to fall on the ground. The station said that Alexander was named the department's reserve officer of the year in 2013.

Ava DuVernay to Direct DC Superhero Movie 'New Gods'
Miracle is perhaps the most marketable of all of the New Gods characters, along with his wife, Big Barda , and Orion himself. The New Gods were created by Jack Kirby in 1971 and debuted in a trilogy: New gods , Forever People and Mister Miracle .

Forecast for return of the Beast from the East just got worse
Snow showers are likely to continue on Sunday, with the weather warning again running from 12.05am to 11.55pm. A few flurries of snow could even be seen on Sunday as spring is put on hold for a few days.

Squre Enix's HTML Leaks Game's Release Date, Platforms; Trailer Also Revealed
The third and final chapter in the new Tomb Raider reboot, titled Shadow of the Tomb Raider , has just been officially announced. That said, there is a new trailer that should players fans a taste of what's to come, the likes of which can be seen above.

March Madness odds 2018: Virginia, Villanova betting favorites in NCAA Tournament
Hunter shot 48.8 percent from the floor, best among UVA players who attempted at least 165 shots on the season (five per game). Hunter is athletically Virginia's best weapon, and proved to be a critical first man off the bench for Tony Bennett's team.

Real Madrid star Bale to play for Wales at China Cup tournament
AARON RAMSEY will miss Ryan Giggs' first game in charge of Wales at the China Cup next week to undergo a minor operation. "It's a blow because he's a quality player, but it's the best thing to do for the future and for Aaron".

Is Meghan Markle the new Carrie Bradshaw?
And she gave her permission for them to Wednesday at St George's Chapel at Windsor Castle on Saturday, May 19 . The former actress attended her first official event with Queen Elizabeth on Monday.

Sooners & Young One and Done at the NCAA Tournament
Oklahoma was unable to pull away, with Rhode Island coming roaring back to take a 55-50 lead with just over eight minutes to play. Young made a few mistakes-he racked up six turnovers and two offensive fouls-but he came through when his team needed him.

County health rankings out: How does your county stack up?
Of Pennsylvania's 67 counties, Centre County placed 2nd while Pike and Northampton Counties ranked 12th and 13th respectively. The Charlotte area is home to two of the five healthiest counties in North Carolina, according to a recent study.

Google doodle celebrates Pi Day
Google Doodle celebrated International Pi Day, which also marks the birthday of renowned theoretical physicist Albert Einstein. Today, Google doodle honors "Pi", the mathematical constant that never ends and never shows a pattern, with a pie.

Kagiso Rabada handed two-match ban for conduct breach
For me, they are not. "It's what I always wanted to do", Rabada said when he reached No.1 for the first time in January. The David Warner-Quinton de Kock shenanigans left a sour taste in the mouths of both camps and emotions were high.

Palestinian prime minister escapes injury in Gaza bombing
Assassination attempt in the Hamas-ruled Gaza Strip has thrown a wrench into peace talks between rival Palestinian factions. Hamdallah said the blast would not disrupt attempts to reconcile with Hamas .

Fertility clinics respond to egg, embryo storage failures
The couple just learned that their two remaining frozen embryos no longer are usable. For 27 years, the center has helped people struggling to start a family on their own.