Trump blocks Broadcom acquisition of Qualcomm

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President Donald Trump signed an government order late Monday that blocks Broadcom Ltd.’s acquisition of Qualcomm Inc. , citing nationwide safety dangers, in keeping with a number of media studies. The order additionally says the 15 individuals Broadcom had put up for election on Qualcomm’s board of administrators are disqualified from standing as administrators. Qualcomm inventory is down almost 5% in late buying and selling, and Broadcom inventory is down 1.5%. Broadcom inventory has gained 16% in the previous yr, as the S&P 500 index has climbed 17%. Qualcomm inventory rose 7.1% in the previous yr.

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