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Trump blocks Broadcom’s bid to buy Qualcomm

WASHINGTON: US President Donald Trump on Monday blocked an unsolicited bid by Singapore-based Broadcom to take over smartphone chipmaker Qualcomm, citing national security concerns. Trump issued an order barring the proposed mega-acquisition, saying there is credible evidence such a deal "threatens to impair the national security of the United States," according to a White House statement. The order came despite Broadcom's assurances that it would complete its move to the United States by early April, ahead of a…

EU fines chipmaker Qualcomm 1bn euros for Apple deal

PARIS: The EU on Wednesday hit US chipmaking giant Qualcomm with an antitrust fine of 997 million euros ($1.2 billion) for paying Apple to use its chips exclusively in iPhones and iPads. EU Competition Commissioner Margrethe Vestager said that by striking the agreement with Apple in 2011 that Qualcomm had "abused its market dominance" to unfairly shut out rival chipmakers such as Intel, denying choice to consumers. The fine is the latest blow struck by the EU against US tech giants and also a fresh hit for Qualcomm,…

Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion

Communications chipmaker Broadcom on Monday said it offered to buy smartphone chip supplier Qualcomm for $70 per share or $103 billion in cash and stock, in what would be the biggest technology acquisition ever. A tie-up would combine two of the largest makers of wireless communications chips for mobile phones and raise the stakes for Intel, which has been diversifying into smartphone technology from its stronghold in computers. Broadcom’s offer is at a premium of 27.6 percent to Qualcomm’s closing price of $54.84 on…