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Banks face millions in lost fees as Trump blocks Qualcomm takeover

An army of bankers and lawyers face missing out on tens of millions of dollars in fees

Banks face millions in lost fees as Trump blocks Qualcomm takeover
Photo: Getty Images

US President Donald Trump's move to block one of the biggest takeovers of all time will leave an army of bankers and lawyers facing the prospect of missing out on millions of dollars in fees.

Trump issued a presidential order late Monday prohibiting the $117bn takeover of San Diego-based chip maker Qualcomm by the semiconductor giant Broadcom, citing national security concerns.

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