Broadcom has formally admitted defeat after US President Trump stepped in and forbade a merger between the firm and Qualcomm.
Most analysts assume Broadcom will now walk away from Qualcomm, with some flagging San Jose-based Xilinx Inc and Israel's Mellanox Technologies Ltd, both diversified makers of communications chips, as likely next targets.
Despite hitting back at the United States gov block, Broadcom had struggled to finalise a deal with Qualcomm anyway, with the latter claiming that Broadcom's bids Broadcom claiming they "undervalued" the company and its "leadership position in mobile technology".
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Qualcomm (QCOM) shares were down 5% Tuesday to $59.70, about where the stock has remained since Broadcom's bid announced in November.
Predictably, Broadcom goes on to say that it's "disappointed with this outcome", but that it'll nevertheless comply with the presidential order.
The letter from the Treasury was based on a review by the Committee on Foreign Investment in the United States, an inter-agency panel that vets deals between foreign and American companies.
Rosenzweig added Broadcom could fire Qualcomm management, cut research spending on 5G or stop Qualcomm from participating in the 5G standards-setting process.
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The company's statement on the matter was brief and mostly boiled down to thank-yous to the people who had supported Broadcom's quest to acquire Qualcomm.
It now could possibly make one more offer for Qualcomm once it completes its relocation to the USA, said Zino.
Intel's Broadcom deal alone would be worth $170 billion, according to Barron's, and that's without the successful Broadcom acquisition of Qualcomm.
The Committee on Foreign Investment in the United States, which reviews the national security implications of foreign investments in USA companies, cited concerns about Broadcom's penchant for cutting costs such as research spending. The deal was striking for a number of reasons, including the fact that the entities had yet to agree to a deal in the first place, and that Broadcom was in the process of relocating its headquarters to the United States.
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The NRA said the meeting went well, and the president had expressed his support of the Second Amendment and due process rights. In that meeting, Trump insisted upon making that bill's foundation the "very strong" background-check bill written by Sens.