A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an unsolicited bid to buy peer Qualcomm Inc for $103 billion, is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake
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Trump sends message: U.S. tech not for saleWith his swift rejection of Broadcom Ltd.'s hostile takeover of Qualcomm Inc., President Donald Trump sent a clear signal to overseas investors: Any deal that could give China an edge in critical technology will be swatted down in the name of national security. Although Broadcom is based in Singapore, China loomed large over the U.S. government's fears about a foreign takeover of chipmaker Qualcomm. The president's order Monday blocking Broadcom's $117 billion bid for Qualcomm is the latest sign of Trump's tough stance on foreign takeovers of U.S. technology and is part of a broader move to contain China on trade.Only five takeovers of American firms have been blocked by U.S. presidents on national security grounds since 1990 . Trump's order came as Broadcom was in the midst of moving its headquarters from Singapore to the U.S. Broadcom announced the move in November after its CEO Hock Tan met with Trump at the White House.
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