Trump blocks Broadcom’s $117 billion Qualcomm bid

WASHINGTON, DC - NOVEMBER 02: (AFP OUT) Broadcom CEO Hock Tan announces the repatriation of his company headquarters to the United States from Singapore as U.S. President Donald Trump looks on during a ceremony in the Oval Office of the White House on November 2, 2017 in Washington, DC. At left is Rep. Kevin McCarthy (R-CA). (Photo by Martin H. Simon - Pool/Getty Images)

President Donald Trump blocked Broadcom's $117 billion bid for Qualcomm on Monday citing national security concerns.

Broadcom said in a statement that it is reviewing the order and that it "strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns.” In a presidential order, President Trump said “credible evidence” had led him to believe that if Singapore-based Broadcom were to acquire control of Qualcomm, it “might take action that threatens to impair the national security of the United States.”

The acquisition, if it had gone through, would have been the largest technology deal in history.

With guest host Libby Denkmann.

Guests:

Cecilia Kang, technology reporter based in Washington D.C. for the New York Times who has been following the story; she tweets

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Ed Hammond, senior deals reporter at Bloomberg who has been following the story; he tweets

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