Trump stopped the sale of Apple's key supplier
President of the United States Donald Trump blocked the Singapore Broadcom purchase of microchip manufacturer for Apple, Qualcomm, said in the presidential decree.
The reasons for this decision are national security considerations. If the transaction took place, its amount would be a record $ 117 billion for the technology sector.
As noted by Bloomberg, Trump acted on the recommendation of the Committee on Foreign Investments in the United States, which assesses each major acquisition. The committee provided the president with sufficient evidence that a Singapore company could endanger the security of the United States.
Broadcom, in turn, declares that it categorically does not agree with the decision of the US authorities.
The acquisition of Qualcomm was already the ninth deal that Trump blocked from the committee's submission. Nevertheless, its volume is almost 20 times more than the previous eight combined.
At the same time, the deal was far from complete, as not all of the shareholders who had received the offer agreed to sell their shares.
In November 2017, Broadcom management met with Trump. Following the results of this meeting, it was decided to move the company's headquarters to the United States. Nevertheless, concessions from the company proved to be insufficient for the US authorities.
Founded in 1985, Qualcomm develops processors, satellite phones, virtual reality platforms and other devices. The company's net profit in 2016 was 5.7 billion US dollars.