(Adds details of order)
March 12 (Reuters) - U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd's proposed takeover of Qualcomm Inc on grounds of national security.
Qualcomm had rebuffed Broadcom's $117 billion takeover offer, which is under investigation by the U.S. Committee on Foreign Investment in the United States (CFIUS), a multi-agency panel led by the U.S. Treasury Department that reviews national security implications when foreign entities take over U.S. corporations.
"The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited, and any substantially equivalent merger, acquisition, or takeover, whether effected directly or indirectly, is also prohibited," the presidential order released on Monday said.
The order cited "credible evidence" that led Trump to believe that Broadcom taking control of Qualcomm "might take action that threatens to impair the national security of the United States." (Reporting by Diane Bartz and Chris Sanders in Washington; Supantha Mukherjee and Pushkala Aripaka in Bengaluru; Editing by Peter Henderson)