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Why Broadcom Scrapped Its Qualcomm Bid

Why Broadcom Scrapped Its Qualcomm Bid

For a while, Broadcom’s (AVGO) quest to acquire chip maker Qualcomm (QCOM) was getting more and more complicated by the day. The company said that it would respect President Donald Trump’s order and withdraw its offer to acquire Qualcomm. The Trump administration said that the acquisition represented a security risk for the country.