(Reuters) – Broadcom Ltd (AVGO.O) Chief Executive Hock Tan is unlikely to slow his acquisition spree after U.S. President Donald Trump blocked the microchip maker’s $117 billion bid for Qualcomm Inc (QCOM.O) on national security grounds, analysts said on Tuesday.
Trump signed an order late on Monday to halt what would have been the biggest-ever technology deal on concerns that a takeover of Qualcomm by the Singapore-based company would erode the United States’ lead in mobile technology and give China the upper hand.
The deal would have created the world’s No. 3 semiconductor company with a leading market share in smartphones, car electronics and industrial internet devices.
Analysts said Broadcom can still build heft through smaller deals. And it could have an easier time buying U.S. targets if it goes through with plans to redomicile in the United States.
Tan has already turned Avago, a small chipmaker with a market value of $3.5 billion in 2009, into a more than…