The page you are looking for is temporarily unavailable.
Please try again later

Tech & Science Broadcom ends bid for Qualcomm after President Trump nixes deal

19:26  14 march  2018
19:26  14 march  2018 Source:   reuters.com

Intel might buy Broadcom, which is trying to buy Qualcomm

  Intel might buy Broadcom, which is trying to buy Qualcomm Intel is feeling threatened by the Broadcom-Qualcomm deal and could step in itself, according to The Wall Street Journal. Sarah Tew/CNET Well, here's a new wrinkle in Broadcom's quest to buy rival chipmaker Qualcomm: Intel might actually try to buy Broadcom. Intel, the world's biggest PC and server chip company, is mulling a bid for Broadcom, a company that makes Wi-Fi, Bluetooth and other connectivity chips, according to a report Friday from The Wall Street Journal. The newspaper said Intel's worried about the power a combined Broadcom and Qualcomm would hold.

Singapore-based Broadcom Ltd. withdrew its 7 billion bid to acquire Qualcomm Inc. on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

March 14- Singapore-based Broadcom Ltd withdrew its 7 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump . Sources had told Reuters on Tuesday that Broadcom was ready to scrap its bid for Qualcomm .

a sign above a store: Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California © REUTERS/Mike Blake Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

The company said it has also withdrawn its slate of independent director nominees for Qualcomm's annual shareholder meeting.

Broadcom, however, expects to continue with its plan to redomicile to the United States.

"Although we are disappointed with this outcome, Broadcom will comply with the order," the chipmaker said.

Trump White House blocks Broadcom takeover of Qualcomm

  Trump White House blocks Broadcom takeover of Qualcomm President Trump has blocked Singapore-based Broadcom's proposed $117 billion takeover of U.S. chipmaker Qualcomm for national security reasons. In the order released Monday night, Trump cited "credible evidence" that the takeover "threatens to impair the national security of the United States." Coming just hours after Broadcom CEO Hock Tan met with security officials at the Pentagon in an effort to save the deal, the order follows an investigation by the Committee on Foreign Investment in the United States, which reviews purchases of American companies by foreign investors.

(Reuters) - Singapore-based Broadcom Ltd withdrew its 7 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

(Reuters) - Singapore-based Broadcom Ltd withdrew its 7 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

Sources had told Reuters on Tuesday that Broadcom was ready to scrap its bid for Qualcomm.

Broadcom's board met late on Tuesday to formalise plans to move its base to the United States, at a cost of about $500 million a year under a higher tax rate, the sources said.

Being based in the United States as opposed to Singapore should make it easier for Broadcom to make acquisitions of U.S. companies without falling under the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS).

Shares of Broadcom were untraded, while those of Qualcomm were up marginally before the opening bell.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Arun Koyyur)

Qualcomm’s new headset with eye tracking ships to developers later this year .
Qualcomm is launching a development kit based on its Snapdragon 845 VR platform in the second quarter of this year. The self-contained headset and software development kit will showcase key elements of Qualcomm’s mobile chip-based VR system, including full inside-out motion tracking and a partnership with eye-tracking company Tobii. It will also support HTC’s Vive Wave platform, which is designed to let VR developers build and sell software across multiple brands of headsets.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!