San Francisco — US President Donald Trump on Monday blocked an unsolicited bid by Singapore-based Broadcom to take over smartphone-chip maker Qualcomm, citing national security concerns. Trump issued an order barring the proposed mega-acquisition, saying there was credible evidence such a deal "threatens to impair the national security of the US", according to a White House statement. The order came despite Broadcom’s assurances that it would complete its move to the US by early April, ahead of a previously planned Qualcomm shareholder vote on the $117bn deal — meaning any national security concerns are moot. "Broadcom strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns," the company said, adding that it was reviewing the order. The Treasury Department said in a letter at the weekend that Broadcom had on three occasions violated an order by the Committee on Foreign Investment in the United States, by failing to give advance notice befor...
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