Broadcom withdraws Qualcomm offer after Trump blocks bid

Paris (AFP) – Singapore-based Broadcom said Wednesday it was abandoning efforts to take over US smartphone chipmaker Qualcomm, two days after its bid was blocked by President Donald Trump over national security concerns.

“Although we are disappointed with this outcome, Broadcom will comply” with the order blocking its effort to buy Qualcomm, it said in a statement. Broadcom said it had withdrawn its candidates to sit on the board of directors of Qualcomm.