Illustration: On November 2, 2017, at the White House Oval Office Ceremony in Washington, DC, Broadcom Chief Executive Officer Hock Tan announced the relocation of its corporate headquarters from Singapore to the US President of the United States Donald Trump (Donald Trump) embraced Chen Fuyang.
Netease Technology News March 13 news, according to foreign media reports, local time on Monday, the White House issued a statement, President Donald Trump (National Trust) grounded on the grounds of the acquisition of Broadcom plans to acquire Qualcomm. Was ordered to immediately stop the proposed deal. In addition, the White House statement also prohibits Broadcom's proposed Qualcomm board candidate to run for election.
The statement stated that 'there is credible evidence that leads me to believe that Broadcom Co., Ltd., a company formed under the laws of Singapore ... through the actual control of Qualcomm Inc. (Dual State of Delaware, USA) may harm the national security of the United States.'
Both companies were ordered to immediately abandon the proposed deal. The order also prohibits Broadcom's proposed Qualcomm board candidates from participating in the election.
The US Foreign Investment Committee (CFIUS) under the US Treasury Department sent a letter to Broadcom and Qualcomm’s team of lawyers on March 5 to express concerns and concerns about the transaction. CFIUS cited several issues, including Broadcom’s reduction of research expenditures and Potential threats to national security, etc.
Despite this, Broadcom has been optimistic that moving headquarters from Singapore to the United States will clear the way for this transaction.
After the announcement of the White House announcement, Qualcomm shares fell by nearly 5%. Broadcom shares rose about 1% after a brief fall.
Broadcom and Qualcomm did not immediately respond to comment requests.