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The president points to national-security concerns raised by the deal
President Donald Trump Monday blocked Broadcom Ltd.’s $117 billion hostile bid for Qualcomm Inc. over national security concerns, quashing what could have been the biggest-ever tech deal.
“The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited,” says the presidential order, signed by Mr. Trump.