Qualcomm is sinking after Trump blocked its $117 billion takeover by Broadcom citing national security (AVGO, QCOM, INTC)
|03/13/2018||Posted by BusinessMediaguide.Com under General World News||
- President Trump issued an executive order Monday blocking Broadcom’s takeover bid for Qualcomm, citing national security.
- Shares of Qualcomm sank on the news; while Broadcom rose slightly.
- It is a highly unusual move by a President.
Shares of Qualcomm sank more than 5% in early trading Tuesday after President Donald Trump blocked Broadcom’s proposed buyout of the chipmaker in an executive order late Monday, citing national security.
The highly unusual order effectively squelches what could have been one of the largest technology acquisitions of all time. Trump said there was “credible evidence” that Broadcom “might take action that threatens to impair read more >>>