Broadcom ends $117 bn bid for Qualcomm after President Trump blocks deal

Broadcom Qualcomm dealSingapore-based Broadcom withdrew its $117 billion bid to acquire rival semiconductor company Qualcomm. Two days back, U.S. President Donald Trump blocked the attempt citing national security concerns. It is believed that the US administration is fearing about the dominance of China-based Huawei in the wireless market.