Qualcomm: Broadcom officially drops bid
(CercleFinance.com) - Broadcom said on Wednesday that it has abandoned its bid to acquire Qualcomm, in a widely-anticipated move as the transaction was blocked by Donald Trump yesterday due to "national security" reasons.
Broadcom, which designs digital and analog semiconductors and is based in Singapore, said in a statement that it plans to continue to move forward with its domiciliation process to the US.
The company will publish its quarterly results tomorrow, Thursday 15 March.
Qualcomm did not immediately respond to the news.
Broadcom shares were down 1.2% in early morning trading, while Qualcomm shares were trading 2% lower.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Broadcom, which designs digital and analog semiconductors and is based in Singapore, said in a statement that it plans to continue to move forward with its domiciliation process to the US.
The company will publish its quarterly results tomorrow, Thursday 15 March.
Qualcomm did not immediately respond to the news.
Broadcom shares were down 1.2% in early morning trading, while Qualcomm shares were trading 2% lower.
Copyright (c) 2018 CercleFinance.com. All rights reserved.