2017-11-03 06:41:00 Fri ET
Broadcom, a one-time division of Hewlett-Packard and now a semiconductor maker whose chips help power iPhone X, has announced its strategic plans to move its legal headquarters from Singapore to America. This press conference takes place at the White House where President Trump heralds this move as an endorsement of his recent business-friendly tax overhaul reform and then names Broadcom one of the great companies worldwide. In addition, Broadcom has announced its $100 billion offer to acquire Qualcomm, another major chip-maker and upstream supplier for Apple. This strategic M&A deal would be the biggest takeover in the history of the technology industry. In the broader context of consolidation within the semiconductor industry, the Broadcom-Qualcomm empire's services would reach almost every smartphone in the world.
Although Qualcomm intends to reject this takeover bid and portrays it as cheap and opportunistic, Broadcom's close connections to the Trump administration can be viewed as a new template for savvy deal makers and tech executives to politically maneuver mergers and acquisitions under the Trump administration.
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