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Broadcom pulls plug on Qualcomm pursuit

Illustration: Rebecca Zisser / Axios

Broadcom this morning withdrew its $117 billion offer to acquire Qualcomm, following President Trump's decision to block the deal for reasons of national security. The Singapore-based chipmaker also reiterated its previously-announced plans to redomicile in the U.S.

Go deeper: The fallout from Qualcomm's victory