Trump Ends Broadcom's Qualcomm Takeover

Mar 14, 2018

A dozen banks that signed on to provide a record US $100 billion bridge loan to back Broadcom Ltd's planned US $117 billion takeover of Qualcomm Inc will earn starkly less than planned for extending credit to the chipmaker after US President Donald Trump blocked the deal over national security concerns on Monday. The original 12 banks were in the process of downsizing their risk by expanding the bank group when the White House announced it was blocking the bid.