U.S. Government blocks Broadcomm bid for Qualcomm

Our Team has been closely monitoring the merger developments in our own backyard between Qualcomm and Broadcom.  Earlier this week, President Trump used his executive powers to block the pursuit of the hostile takeover.  Broadcom said Wednesday that it had withdrawn its $117 billion hostile offer for Qualcomm, saying “we are disappointed with this outcome” but will comply with Trump’s order blocking the move.  Our Managing Partner, Dan Mogin, has this to say about the latest interference by the government.


“We admit to mixed feelings. As San Diegans, we are pleased for our friends and neighbors. As Americans, we oppose corporate buyouts that could weaken our national security.  As antitrust lawyers, we firmly believe that mergers that pose anticompetitive risks should be examined and blocked or restructured where necessary.  In this instance, however, the premature invocation of national security before any examination of competitive concerns under the HSR process undermines our antitrust legal regime and the antitrust enforcement agencies, while sending the wrong message to markets and investors. We believe in fact based antitrust enforcement.”


For more information about the recent government interference, please see The San Diego Union Tribune’s piece by Michael Liedtke and Zeke Miller


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