"There is credible evidence that leads me to believe that Broadcom Limited. through exercising control of Qualcomm Incorporated ... might take action that threatens to impair the national security of the United States", president Trump's order stated. The takeover, which would have been the largest transaction the technology industry had ever seen, was tripped up by concerns that it posed a threat to American competitiveness in mobile technology by putting one of the largest mobile chip makers in the US under the control of a company based in Asia.
The administration moved with unusual speed in the matter that caught many involved in the negotiations off guard.
As a result of the presidential order, Broadcom's purchase efforts are on hold for the time being, if not forever.
In a letter to the companies on March 5, CFIUS expressed concerns that Broadcom would not be willing to fund the research needed to maintain Qualcomm's strong position on so-called 5G technology, a forthcoming standard for wireless data networks, leaving the USA with nowhere but China to turn for such technology. Broadcom, a Singapore-based company, has been attempting to nab Qualcomm for months, something the latter company has been resistant to. At present, Qualcomm and Huawei Technologies are trying to sign an agreement on their licensing dispute. Nearly every major business and consumer electronics manufacturer uses Qualcomm's technology as brains for their devices.
Trump disagreed with this line of reasoning, however. Last week, Trump also approved stiff and sweeping tariffs in the name of national security, saying that steel and aluminum imports were a threat to American manufacturing. At least a half-dozen technology deals have collapsed during the Trump administration in the face of concerns raised by CFIUS.
Mr Trump had earlier used his veto powers to scuttle the Chinese government-backed Canyon Bridge Capital Partners' attempt to buy the Lattice Semiconductor Corp in September.
Broadcom Chief Executive Hock Tan met earlier Monday with CFIUS officials to make its case to be allowed to pursue an acquisition of Qualcomm. He has not spoken about the matter recently.
He described Trump's executive order as "brutal".
Shares of Broadcom rose less than 1.0 percent to $264.10 in after-hours trade while Qualcomm fell 4.3 percent to $60.14.
The Trump administration is concerned about the USA losing ground in 5G technology, the latest iteration of wireless technology, which is expected to greatly improve wireless networks and prove essential to the next generation of self-driving cars as well as other technologies. While chips that connect phones to networks and run programmes on smartphones generate the majority of its sales, patents on inventions that cover the fundamentals of all modern phone systems let Qualcomm collect highly profitable fees from phonemakers. Cable-quality service could even be provided over the air, instead of a wireline connected to a house.
A website associated with Iran state TV quoted an emergency official as confirming that the crash killed all 11 people on board. Turkish media earlier reported that Basaran's daughter and seven of her friends were returning from a hen party in Dubai.
The US has been very critical of both Kenyatta and Odinga, Soi noted. "And, hopefully we can progress from this". Alfred Mutua has issued a warning following the meeting between Raila Odinga and President Uhuru Kenyatta.
The Packers showing interest shouldn't come as much of a shock after trading Damarious Randall to the Cleveland Browns on Friday. He has said that he plans to be running at full speed some time next month and will be ready to play by training camp.
Whereas Apple Music is now growing by 5% every month, Spotify is said to be growing it subscriber base by about 2% every month. In addition to its paid service, Spotify also offers an free ad-supported version to help draw users into the service.
Cleveland switched from a 3-4 defensive scheme to a 4-3 last season, and Shelton was not playing over the center as in the past. One day after trading for Jarvis Landry , Tyrod Taylor , and Damarious Randall , the Browns are back on the trade market.
Sherman expects to be ready for the regular season but could be limit in August for training camp and parts of the preseason. We love you and your unwavering competitiveness, confidence and fierce passion for football and life.
Real Madrid have closed the gap on second-placed Atletico Madrid with a hard-fought 2-1 win in Saturday's La Liga clash at Eibar . Lucas Vazquez and Karim Benzema replaced Isco and Toni Kroos as Zidane looked to raise the tempo and find a second goal.
Indian Wells: Venus cuts short Serena's comeback
You know, I'm getting there. "I managed to get my feet going more, and managed to start playing more steady, and that paid off". But, after two straight-set wins at Indian Wells , a highly-anticipated and hoped-for showdown is happening.
Narayan Rane Among BJP's 18 Rajya Sabha Candidates
The JD (S) will have the hard choice of backing its own candidate or voting for a Vokkaliga, its main support base. The Congress's decision to field a candidate in Telangana is surprising as it is in not a position to win a seat.
NMSU confident going into NCAA Tournament vs. Clemson
Jans did not know much about Clemson on Sunday, but, obviously, the work on scouting the Tigers begins right away. Villanova faced LIU Brooklyn in the NCAA Tournament in 1997 and came out with a win by a final of 101-91.
Man's severed leg used as pillow in Jhansi hospital
They also claimed that it was the doctors that put it there and they didn't give him a real pillow for another two hours. He lost the leg in the accident on Saturday, and was brought to the hospital in a critical condition.
Elon Musk wants to preserve humanity in space
"I think we will be able to do short flights, short up and down flights, probably in the first half of next year". It was Musk's long-range plan for sending settlers to Mars that took up most of the attention.
Spurs shrug off Kane injury, Arsenal silence Watford's Deeney
You need 24 or 25 players with the same objective - to fight for the team and help the team when the gaffer calls on them". Spurs got the better of Bournemouth 4-1 away from home at the Vitality Stadium in the Premier League on Sunday evening.
Thrown away: AP source: Browns trade QB Kizer to Packers
Dumervil, 34, was set to receive a $500,000 roster bonus on Tuesday and would have carried a $4.25 million cap hit in 2018. Releasing Sherman, who spent seven seasons with the team, saves the team $11 million against the 2018 salary cap.
Bannon: 'Let them call you racists'
The anti-establishment former head of Breitbart News has repeatedly expressed support for Europe's far right movements. Bannon said he agreed with Le Pen's expressed belief that "it is not about left versus right".