Trump signs order prohibiting Broadcom takeover of Qualcomm

WASHINGTON (Reuters) – U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd’s proposed takeover of Qualcomm Inc on grounds of national security.

Qualcomm has rebuffed Broadcom’s $117 billion takeover offer, which is under investigation by the Committee on Foreign Investment in the United States, a multi-agency panel led by the Treasury Department that reviews national security implications when foreign entities take over U.S. corporations.

(Reporting by Eric Beech; Editing by Eric Walsh)