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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

Broadcom's statement:

Although we are disappointed with this outcome, Broadcom will comply with the Order. Broadcom will continue to move forward with its redomiciliation process and will hold its Special Meeting of Stockholders as planned on March 23, 2018.
Broadcom’s Board of Directors and management team sincerely appreciate the significant support we received from the Qualcomm and Broadcom stockholders throughout this process.
Broadcom thanks the independent nominees who stood for election to the Qualcomm board, not only for their time and effort but also for their unwavering commitment to act in the best interests of Qualcomm stockholders.
Broadcom appreciates the following statement from U.S. Treasury Secretary and CFIUS chair Steven Mnuchin on March 12: “This decision is based on the facts and national security sensitivities related to this particular transaction only and is not intended to make any other statement about Broadcom or its employees, including its thousands of hard working and highly skilled U.S. employees.
Jonathan Swan 5 hours ago
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Trump's two-front war

Photo: Jabin Botsford / The Washington Post via Getty Images

President Trump is ending the week with a flop — nowhere close to the border wall funding he wanted in the DACA-less spending bill that congressional leaders released last evening. But he's fulfilling one of his most aggressive campaign promises with his anti-China trade action.

The big picture: Trump's expected announcement today of tariffs on Chinese imports is a big deal, and analysts fear it could provoke a trade war — and it comes as Trump has been battling his own party here at home over the government spending bill.

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The worst flu season in eight years

Note: Activity levels are based on outpatient visits in a state compared to the average number of visits that occur during weeks with little or no flu virus circulation; Data: Centers for Disease Control and Prevention; Chart: Chris Canipe/Axios

This year's flu season caught many experts off guard with both its sustained prevalence and its virulence. At its peak, there was a higher level of flu-like illnesses reported than any other year during the past eight years. Watch in the visual as it hits its peak around Week 18.

Why it matters: Public health officials try to capture this data when developing the next year's vaccines. And, of course, they want to find better ways to prevent severe flu seasons. There's a "Strategic Plan" to develop a universal vaccine to protect against a wider range of influenza viruses, Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, tells Axios.