March 12, 2018 / 10:44 PM / 3 months ago

Trump signs order prohibiting Broadcom takeover of Qualcomm

WASHINGTON, March 12 (Reuters) - U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd's proposed takeover of Qualcomm Inc on grounds of national security.

Qualcomm has rebuffed Broadcom's $117 billion takeover offer, which is under investigation by the Committee on Foreign Investment in the United States, a multi-agency panel led by the Treasury Department that reviews national security implications when foreign entities take over U.S. corporations. (Reporting by Eric Beech Editing by Eric Walsh)

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