Broadcom abandons Qualcomm takeover bid after Trump block

Broadcom has dropped its takeover bid for rival chipmaker Qualcomm after US President Donald Trump blocked the deal for national security reasons. Trump issued an order to block the merger on Monday. The order stated that there is “credible evidence” if the Singapore-based Broadcom took control of the US-based Qualcomm, the company “might take action that threatens to impair the national security of the United States.”Broadcom said in a statement it was disappointed with