The move by Trump to kill the deal comes only months after the USA president himself stood next to Broadcom Chief Executive Hock Tan at the White House, announcing the company's decision to move its headquarters to the United States and calling it "one of the really great, great companies".
The order cited "credible evidence" that led Trump to believe that Broadcom's taking control of Qualcomm "might take action that threatens to impair the national security of the United States".
Broadcom downplayed chances that the CFIUS investigation (which began last week) might disrupt a potential deal.
"I have seen San Diego defense companies suffer massive theft of intellectual property by agents of China's government and the defense industrial complex with which it is inextricably entwined", Hunter said in a release.
Broadcom-which was formerly known as Avago and adopted its new name after buying the original USA -based Broadcom in 2016-is based in Singapore.
Broadcom Chief Executive Hock Tan and other Broadcom representatives were scheduled to meet with CFIUS officials on Monday, according to the letter. Both companies are required to go through and finalize the process that signifies the proposed takeover has been abandoned, which includes getting a written certification that such a deal has been stopped.
In another letter Sunday, the Treasury Department official, writing on behalf of CFIUS, said that the investigation had "so far confirmed" the body's national security concerns.
Broadcom attempted a hostile takeover by purchasing proxy votes to install six friendly board members on Qualcomm's 11-member board when Qualcom rejected the offers.
The death of Broadcom's bid for Qualcomm at the hand of Donald Trump leaves a worrying fog for others to navigate.
Even as highly publicised deals such as the bid for Qualcomm by Singapore-based Broadcom, a chip maker for Apple and Chinese electronics manufacturers, run into trouble, asset purchases by Chinese buyers are still going through - and mostly out of the public eye, Wall Street deal makers said.
Qualcomm also has raised the specter of a long, hard regulatory review by global competition agencies, which could weaken the company just as 5G networks are rolling out.
CFIUS also would need to weigh that Qualcomm provides sensitive products to the US Defence Department, has a dominant role in US telecommunications infrastructure and performs significant research and development, Griner said. The president blocked Canyon Bridge Capital Partners LLC's attempt to buy Lattice Semiconductor Corp., ignoring the firm's pledge to save jobs.
"Qualcomm has become well-known to, and trusted by, the US government", the Treasury Department said in a March 6 letter.
Only a few days ago, Broadcom's buyout bid was of such high concern to lawmakers that they asked federal regulators to review the proposed $117 billion deal-and unusual move considering the two companies haven't come to terms on a buyout deal.
Qualcomm shares were down 4.5% in after-hours trading to $59.98, while Broadcom shares were relatively flat at $265.
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