The Trump administration issued an executive order last week preventing “foreign adversaries” from doing telecommunication business in the US. While the order’s wording was vague, the implementation includes preventing Huawei from doing business with any US software or hardware supplier, including Google, Intel, Qualcomm, and Broadcom. This means Huawei will no longer be able to ship […]
Broadcom has given pink slips to 1,100 employees in the wake of its $5.5 billion acquisition of Brocade. The Brocade deal closed in November 2017 and the firm has since been working to integrate the two. The company let employees go from a number of its business lines and is still evaluating whether or not […]
Broadcom says its repatriation process is complete, and it has moved the company’s legal home from Singapore to Delaware. Broadcom announced its intent to move back to the U.S. last November. Broadcom has always maintained a huge presence in the U.S., as its San Jose facility and others around the country are home to some 8,300 […]
Broadcom today said it will no longer pursue its proposed acquisition of rival chipmaker Qualcomm. The decision comes two days after the Trump administration opposed the deal on national security grounds. Broadcom will also withdraw its nominees for Qualcomm board seats. “Although we are disappointed with this outcome, Broadcom will comply with the order,” said the […]
President Trump today issued an order that prevents Broadcom from purchasing Qualcomm. Trump cited national security as his reason behind the order. “The proposed takeover of Qualcomm by the Broadcom is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited,” said the president. Trump suggested there was […]
Broadcom today said it won’t sell anything considered a “critical national security asset” to foreign buyers if its proposed purchase of Qualcomm is approved by U.S. regulators. Earlier this week, the Committee on Foreign Investment in the U.S. (CFIUS) said it would take 30 days to examine Broadcom’s proposal. For the moment, Broadcom is based […]
Looking to assuage fears in the U.S. government, Broadcom today committed to creating a $1.5 billion fund that it will use to invest in technology and engineers. Broadcom claims part of its business model is to acquire companies and focus resources to strengthen that company’s core franchise. In the case of Qualcomm, Broadcom says it will help […]
The U.S. government ordered Qualcomm to cancel a vote scheduled for Tuesday to allow the government more time to review a potential merger between Qualcomm and Broadcom. Specifically, the Committee on Foreign Investment in the U.S. (CFIUS) will examine the possible merger. CFIUS is run by the Treasury Department with officials from Defense, Energy, Homeland […]
Broadcom revised its offer to acquire Qualcomm downward by $3 per share after Qualcomm increased its own bid to buy NXP Semiconductors. Broadcom said: “Qualcomm’s board acted against the best interests of its stockholders by unilaterally transferring excessive value to NXP’s activist stockholders.” Broadcom would have preferred to see Qualcomm act together with Broadcom to broker the right […]
Qualcomm today said Broadcom’s acquisition offer simply isn’t good enough as currently proposed. The companies met earlier this week to go over some of the finer points of Broadcom’s $121 billion bid to purchase Qualcomm, and Qualcomm still came away leery that the deal won’t work out. To start, Broadcom reiterated that its offer of $82 […]
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