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Trump Issues Order To Block Broadcom's Takeover of Qualcomm (bloomberg.com)

Bloomberg reports that President Donald Trump issued an executive order today blocking Broadcom from acquiring Qualcomm, "scuttling a $117 billion deal that had been subject to U.S. government scrutiny on national security grounds." From the report: The president acted on a recommendation by the Committee on Foreign Investment in the U.S., which reviews acquisitions of American firms by foreign investors. The decision to block the deal was unveiled just hours after Broadcom Chief Executive Officer Hock Tan met with security officials at the Pentagon in a last-ditch effort to salvage the transaction. "There is credible evidence that leads me to believe that Broadcom Ltd." by acquiring Qualcomm "might take action that threatens to impair the national security of the United States," Trump said in the order released Monday evening in Washington.

18 of 230 comments (clear)

  1. Seen this before: Fairchild by Flexagon · · Score: 3, Informative

    This reminds me of a similar deal that was similarly scuttled: the proposed purchase of Fairchild Semiconductor that was then owned by French company Schlumberger, to Fujitsu, a Japanese company. In either case, Fairchild would have been owned by a non-US company from a "friendly" country. National security was the given reason, but Japan's then-growing leadership in semiconductors against US companies was the understory.

    1. Re:Seen this before: Fairchild by jrumney · · Score: 3, Informative

      In this case the understory seems to be America's growing leadership in semiconductors against US companies. The current Broadcom was formed by a merger between Broadcom of California, and Avago, which was formed when two New York based private equity firms bought the semiconductor division of Agilent, which itself was spun out of HP. Being private equity vultures, they moved corporate headquarters to a more tax friendly location, but the operations are still very much based in the US.

      Maybe Obama was somehow involved in setting up the deal, that would explain why Trump has to scuttle it now.

  2. Re:Not going to mention by Lisandro · · Score: 4, Informative

    So we're going to post this story, but completely ignore the news that broke today that the whole "Russian hacked the election" and "Russia colluded with Trump" turned out to be entirely false?

    No, House Republicans came up with that conclusion, somehow opposing the entire US intelligence community in the process. The fact that they both decided that Russians did meddle in the elections but somehow did not sought to help Trump is some Orwellian-level doublethink.

  3. Re:Not going to mention by vux984 · · Score: 3, Informative

    "The investigation is being closed with nothing found."

    Cite?

    " completely ignore the news that broke today that the whole "Russian hacked the election" and "Russia colluded ..."

    All I see is some partisan republicans on a house commitee releasing a statement to that effect. Nobody else seems to be buying it; including the Democrats on that same committee. Nevermind the statement from the CIA etc.

    In other words: shut up comrade.

  4. Re:Y'know, I have to wonder.... by Anonymous Coward · · Score: 4, Informative

    Obama did the same. So did Bush. And Clinton and the other Bush and so on way back over a century. It's a standard political practice that falls under the umbrella of protecting US interests.

    It seems new only because you have never paid attention before.

  5. Re: Not going to mention by Anonymous Coward · · Score: 3, Informative

    Oh please. This investigation has been going on for over a year, with not even a hint of any collusion. The only ones being blinded by partisanship are the left, mad at President Trump for defeating The Annointed One.

    19 indictments (13 of them Russian nationals) and 5 guilty pleas so far might disagree with what you deem as reality.

  6. Re:Not going to mention by Lisandro · · Score: 3, Informative

    Sure: https://www.dni.gov/files/docu...

    This report includes an analytic assessment drafted and coordinated among The Central Intelligence Agency (CIA), The Federal Bureau of Investigation (FBI), and The National Security Agency (NSA), which draws on intelligence information collected and disseminated by those three agencies. It covers the
    motivation and scope of Moscow’s intentions regarding US elections and Moscow’s use of cyber tools and media campaigns to influence US public opinion. The assessment focuses on activities aimed at the 2016 US presidential election and draws on our understanding of previous Russian influence operations.
    When we use the term “we” it refers to an assessment by all three agencies.

  7. Re: Not going to mention by Anonymous Coward · · Score: 2, Informative

    Oh please. This investigation has been going on for over a year, with not even a hint of any collusion. The only ones being blinded by partisanship are the left, mad at President Trump for defeating The Annointed One.

    Watergate break-in - June 17, 1972
    Saturday night massacre - October 20, 1973
    "I'm not a crook" speech - Nov 17, 1973
    "One year of Watergate is enough" - SOTU address Jan 30, 1974
    3 articles of impeachment approved - Jul 27-30, 1974
    "Smoking Gun" tape released - Aug 5, 1974
    Tricky Dick resigns - Aug 9, 1974

  8. Re:Racism at work by jrumney · · Score: 3, Informative
    Broadcom was a US company before it moved its headquarters to Singapore for tax purposes and to be closer to their supply chain and customers.

    And before you claim the motivation is nationalist not racist, you should probably check the nationality of the person involved first.

  9. Re: Not going to mention by Anonymous Coward · · Score: 1, Informative

    Except that none of the indictments have anything to do with trump Russia or the election. Why is it that you guys always leave that part out? Oh yeah because this is a witch hunt.

  10. Re: Even a blind squirrel finds a nut once in a wh by Anonymous Coward · · Score: 2, Informative

    Avago (a Singapore company) purchased that Broadcom and renamed themselves Broadcom.

    Avago itself started as the semiconductor division of HP, but was sold off as part of the HP-Agilent divestment to private equity firms.

    Broadcom itself is an amalgamation of the various companies it purchased over the years. This probably helps to explain why there isn't much coherence to thier documentation or general business strategy.

  11. Re: Not going to mention by Anonymous Coward · · Score: 1, Informative

    "Leave that part out"? Yeah Boris, i guess charging thirteen Russians of running a state-sponsored effort designed to interfere with the 2016 campaign has nothing to do with Russia.

  12. Re:Jokes aside I gotta kind of wonder by Anonymous Coward · · Score: 2, Informative

    Speaking of living in a bubble ...

    PAC money is coming from all political sides. George Soros and the Koch brothers are opposite sides of the same coin. As are the SEIU and telecoms. Nobody is clean on this issue.

    Have you ever purchased a firearm? If you do from a licensed dealer or at a gun show you will go through an ATF background check. The problem with the current background check system is government incompetence. Too many recent shooters were supposed to be in NICS(National Instant Criminal Background Check System) but a government agency FAILED to add them. This is a problem of unaccountable bureaucracies and not firearms. Responsible firearms owners are not the mass shooters.

  13. Re: Not going to mention by PopeRatzo · · Score: 3, Informative

    Please cite electoral criminal activity by national level republicans running for office.

    Are you serious? Have you ever heard the name, "Richard M. Nixon"? He was the previous Republican president who resigned in shame after having illegal activity exposed by a special prosecutor. It was kind of a big news story. There were 69 indictments and 48 convictions. A whole bunch of Republicans went to prison.

    https://en.wikipedia.org/wiki/...

    --
    You are welcome on my lawn.
  14. Re: Trump's administration issued the order by quantaman · · Score: 4, Informative

    If Trump didn't mean what he said, why did Breitbart run the headline: "Trump the gun grabber"?

    So people like you would click on it. See how that works?

    They needed to remind Trump that his base was pro-gun.

    Why did the NRA feel they needed to have a meeting with him after these comments?

    For appearances. So that people like, when they saw that both parties left the meeting without their hair on fire, would be denied the chance to spread around a phony narrative.

    The NRA needed to meet with Trump because the NRA realizes that Trump tends to agree with whomever spoke with him last.

    You can say people are being dumb and the President didn't mean what he said... But a lot of conservatives seemed to take it the same way.

    He was speaking casually, not lawerly. Which you're trying to pretend you don't know, because it helps your narrative to assert otherwise. And no, there aren't any significant number of conservatives are the least bit worried about that. Because he's more than clarified the matter, for those who think a single sound bite out of context is some sort of executed policy.

    He was speaking out of his ass because he has no idea what he's talking about. I'm not saying he's an idiot, I honestly don't know if he's smart or dumb. But I do know he has no attention span, you can hear it every time he talks when he goes flying off on tangents left and right and can barely string together two sentences on the same topic.

    That's his basic problem as President, issues are complex and he can't pay attention long enough to really analyze the issues, so instead he just listens to people and tries to get the high level picture. The problem is a smart knowledgeable person can make a superficially compelling case for any position in a complex topic. So if you want Trump to decide on a certain course all you need to do is surround him with the right people and he'll eventually agree with you. That's why the GOP is so confident they can sway him on almost any issue unless he's completely obsessed with it (ie trade), because they can control enough of the people he talks to and none of the nuts on his call list want gun control either. Plus, on something like guns you need actual legislation and the GOP controlled congress will never pass significant gun control.

    --
    I stole this Sig
  15. Re: Not going to mention by PopeRatzo · · Score: 5, Informative

    *We pretend that Bill Clinton never happened.*

    I don't think you fully understood what I said. Because of the criminal activity around Richard Nixon's Committee to Re-elect the President (CREEP) there were sixty-nine indictments and forty-eight convictions. People went to the federal penitentiary for years. Nixon resigned from the presidency and had to be pardoned by his (second) vice-president. And it all started with a burglary and a cover up. There were actually seventy-six indictments and fifty-five convictions during the Nixon Administration, but only 48 of those convictions were directly connected to crimes committed in relationship to Watergate break-in.

    This is what you said in your previous comment:

    "Please cite electoral criminal activity by national level republicans running for office.

    Oh wait... you can't. Because it's never happened."

    Now, do you want to apologize to the class?

    *We pretend that Bill Clinton never happened.*

    Clinton got a blowjob and lied about it. Nobody went to prison. Nobody was indicted. Nobody was convicted.

    During the Obama administration, there were zero indictments, zero convictions, even though the House GOP conducted investigations that went on twice as long as the current House Intelligence Committee's. The came up with nothing. There have been already been 22 indictments during the Trump investigation and five convictions. That's convictions. Not allegations. Not accusations. Convictions. As in "guilty". As in felony. And we're not anywhere near the end. Mueller hasn't even gotten to interview Trump or his failsons or Ivanka yet. There are lots and lots of witnesses left to talk to.

    --
    You are welcome on my lawn.
  16. Re: Racism at work by Anonymous Coward · · Score: 1, Informative

    Yeah no, that is not what happened. Broadcom (a US-based company) was bought by Avago (a Singapore-based company) who then took the Broadcom name but kept the headquarters in Singapore since it's really still Avago under the covers.

    No, that isn't what happened either.

    Both Broadcom and Avago were 100% American. Avago was NEVER Singaporean.

    When Avago took over Broadcom Corp the NEW merged company, Broadcom Ltd, was domiciled in Singapore.

    You are an absolute fucking idiot.

  17. Re: Not going to mention by Anonymous Coward · · Score: 2, Informative

    Thirteen random Russians defeated a 2 billion dollar presidential campaign where the leftist candidate lost to "literally Hitler" who was also facing 95% negative reporting in all major news media throughout the US?

    You probably should take a step back and think about your claims and the sense of relative scale of importance.

    95% of the media
    2,000,000,000 dollars
    a thousand Hollywood celebrities
    all major tech companies, Google, Apple, Facebook, Twitter
    several million volunteers
    more than a few thousand non-citizens voting in key states
    a Nobel Peace Prize winner, who will forever hold the record of "most drone strikes ordered" and "children killed by his orders"
    a "super qualified" candidate with decades of experience in handling state secrets, operating IT equipment, using alias addresses and benefiting from sudden accidents of her enemies

    and they all LOST to
    13 Russians with a Twitter account
    1 "incompetent" "literally Hitler"

    Maybe you need to rethink your argumentation. Whatever the plan was, if it can be destroyed by 13 Russian trolls, then the plan was bunk to begin with.