Broadcom is still seeking major mergers and acquisitions and isn’t likely to change course due to the failure of its attempt to seize control of Qualcomm, according to a number of analysts interviewed by Reuters. The tech giant saw its plan to complete the largest merger in the history of the technology industry come to a halt on Monday evening after President Trump stopped the deal from happening based on the advice provided by the Treasury Department’s Committee on Foreign Investment in the United States, with the development marking an end of a four-month saga that recently seized its first executive victim – Dr. Paul E. Jacobs, son of Qualcomm co-founder Irwin M. Jacobs who was removed from the position of Executive Chairman.

While the move marks the largest defeat in Broadcom CEO Hock E. Tan’s career, it’s unlikely to impact the firm’s modus operandi in the future, some analysts believe, noting how aggressive M&A pursuits were the primary reason why Avago grew from a $3.5 billion company in 2009 to one that’s now valued at over $100 billion. While the still-Singapore-based company is now expected to drop the idea of a Qualcomm acquisition so as to not clash with Washington directly, it may already make new M&A moves in the coming months, with a number of industry watchers pointing to Israeli Mellanox Technologies and American Xilinx as its possible targets following the failure of its last takeover attempt. Smaller acquisitions should also be much more straightforward to conclude for Broadcom which is estimated to have over $10 billion in cash reserves that could go a long way in the industry even though that figure faded in comparison to its $117 billion bid for Qualcomm.

Intel was previously said to have pondered intervening in the deal if it went through by bidding for Qualcomm but it’s now unlikely to make any moves even if it wouldn’t be subjected to the same level of regulatory scrutiny as Broadcom was by virtue of the fact that it’s an American company. Broadcom is still expected to complete its re-domiciliation process by early spring and move its corporate headquarters back to San Jose next month.

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