BREAKING NEWS: White House says it's blocking Broadcom bid for rival Qualcomm

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The White House said Monday it is blocking Broadcom's bid for rival chip manufacturer Qualcomm, which would have been the biggest-ever technology takeover.

"The proposed takeover of Qualcomm by the Purchaser is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited," according to the order describing the findings of the Committee on Foreign Investment in the United States.


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