Trump blocks Broadcom's $117 billion bid for Qualcomm out of national security concerns, a highly u

[BumRushDaShow]

Source: Washington Post

President Trump Monday ordered Singapore-based Broadcom to abandon its $117 billion hostile bid for Qualcomm, blocking what would have been one of the biggest technology deals in history.

In his presidential order, Trump said the takeover "threatens to impair the national security of the United States." The merger would have put one of America’s biggest mobile chipmakers in the hands of a company based in Asia, a region that has been racing to develop the next generation of mobile technology.

The administration moved with unusual speed in the matter that caught many involved in the deal off guard. The Committee on Foreign Investment in the United States, or CFIUS, had several more weeks to render a recommendation to the president. Trump's order is final and cannot be appealed, analysts said.

This story is developing.

Read more: https://www.washingtonpost.com/news/business/wp/2018/03/12/trump-blocks-broadcoms-117-billion-bid-for-qualcomm-out-of-national-security-concerns-a-highly-unusual-move/?utm_term=.1a426d4d1e64

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Original story -

Full title: Trump blocks Broadcoms $117 billion bid for Qualcomm out of national security concerns, a highly unusual move

by Washington Post Staff March 12 at 6:49 PM

In an executive order Monday night, President Trump said his administration has uncovered national security concerns in Broadcoms hostile bid to take over Qualcomm, a deal that would have put one of Americas biggest mobile chipmakers in the hands of a company based in Singapore.

The administration moved with unusual speed in the matter that would have shaken up the global race to define the next generation of mobile technology.

This is a developing story. It will be updated.

[samnsara]

1. trumps too stupid to do this on his own.. wonder whos fingerprints are all over this directive?

[Eliot Rosewater]

2. Trump does not know what a chipmaker makes, or what that is.

He doesnt know anything, so someone tells him to do something and as long as it doesnt upset Vlad or his pocketbook, he does it.

[aggiesal]

6. Yes he does. He thinks Qualcomm makes Lays Potato Chips ...

and he won't eat potatoes from Singapore.
That's just another $hith0le country.

[Eliot Rosewater]

7. I would give anything to be able to ask him 5 business questions that any

donuts shop owner or convenience store owner or shoe store owner would know the answers to, let alone some international business tycoon.

He would not be able to answer any of them.

[aggiesal]

8. ROFL

[Eliot Rosewater]

9. ...

https://www.democraticunderground.com/100210346943

[Leghorn21]

4. TOTALLY, sam!!! All day long its trump this and trump that, while that sorry sack of

senility is tuning into fox and pining for Flynn and Hicks to come back to him -

He don’t do NUTHIN. EVER.

[Honeycombe8]

13. Yes. He's never heard of these cos. & knows nothing about this business.

Someone was at the ready to stop it. I wonder who. There's no one in the W.H. with a brain, so who else?

[Blue_Tires]

3. We're going to discover some Trump crony has a major stake

in this deal not going through, aren't we?

[dalton99a]

20. +1

[dixiegrrrrl]

21. Or, a bribe. He works for money if it is a big enough amount. n/t

[Freethinker65]

5. Trump properties, or friends/family interests, or Trump patent/trademark issues in Singapore?

[jmowreader]

10. Strangely enough...

I was not aware the president of the United States had the power to unilaterally order a private company based in Singapore to do anything.

[rpannier]

17. He is basing it on National Security Concerns

The President (any US President) has wide latitude over anything that is considered National Security

[2left4u]

11. Any Russian bids?

I'm sure his Russian buddies are trying to get their such money put together now.

[BumRushDaShow]

14. Ironically

there was a Qualcomm-Russia story just over 20 years ago -

Russia Says an American Accused of Espionage Can Return Home for the Holidays

By ALESSANDRA STANLEY DEC. 24, 1997

An American technician who was arrested here nearly a month ago as a spy was given permission today to go home for the holidays, according to an executive of his company in Rostov.

The technician, Richard L. Bliss, 29, an employee of Qualcomm, a San Diego-based telecommunications company hired to install a state-of-the-art telephone system in Rostov, is not entirely a free man. The Qualcomm executive, Daniel L. Sullivan, said that Mr. Bliss was temporarily released on Mr. Sullivan's personal assurance that he would return to Rostov on Jan. 10 to resume cooperating in the investigation.

The unusual decision by the Federal Security Service, the intelligence service that replaced the Soviet K.G.B., could make Mr. Bliss the first suspected spy to be let out of the cold for Christmas.

Representatives of the security service in Rostov and Moscow declined to comment tonight. Mr. Sullivan said the move was ''a positive step and we are very appreciative.'' He added, ''Naturally, we are eager to see the matter completely resolved.''

http://www.nytimes.com/1997/12/24/world/russia-says-an-american-accused-of-espionage-can-return-home-for-the-holidays.html

[keroro gunsou]

12. bazooka Joe

"even a broken clock is right twice a day..."

even if they don't do it on purpose.

still i wonder who put the notion in his empty head... no way he's this smart.

[iluvtennis]

15. They failed to line his pockets with any moola, so he calims national security issue. I'm tired of

phony national security issues like this one and the steel and aluminum tariffs. What does it have to do with national security. If the logic is that this is a nat'l security issue, then doing away with Net Neutrality should also be a national security issue. I call BS.

[BumRushDaShow]

16. Even better, Russian interference in our election IS a "National Security issue"

yet.... *crickets*

[iluvtennis]

18. Exactly. Your's is the best example.

[JohnnyRingo]

19. Good!

Mergers like this always bite the consumer in the ass. Though Trump cites national security concerns, you can bet his Supreme Court Appointment would rubber stamp this merger in a heartbeat.

Having said that, I fully expect Trump to backpedal this common sense move once the scions of greed get his ear.

[SWBTATTReg]

22. Now tRUMP says something about national security?

Usually the SEC and/or the FTC, plus various other agencies will say something that if a company will disengage a portion of itself and spin it off into another entity etc., then the concern by regulators is addressed. I don't recall this happening here. The Markets today aren't going to like this at all. What if tRUMP does this to everyone that he has some issue w/, and not let the markets work as they should?