Broadcom's Proposed Takeover of Qualcomm Is Prohibited

The federal government is hitting the pause button tonight on what could be one of the biggest and most consequential technology deals ever. President Trump issuing an order saying Broadcom's proposed takeover of Qualcomm is prohibited in that any merger, acquisition or takeover substantially equivalent to this proposed deal will be prohibited. The government was concerned that if Broadcom took over Qualcomm, cut all these costs in R&D, what would happen next is that Qualcomm would stop investing in key technology which makes the US a leading provider of tech around the world. Ultimately, the US would become less competitive against China.