Both companies were ordered to immediately abandon the $117 billion deal; Trump’s order also prohibits Singapore-based Broadcom’s proposed candidates for Qualcomm‘s board from standing for election. Broadcom says it “strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns.”
It’s not common for a US president to take such step. Trump’s “America first” policies highlight growing economic tensions with the rest of the world.
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[CNBC]
