© The White House via YouTube Business | March 12, 2018

Broadcom soon to be American

Broadcom is in the final stages of redomiciling to the U.S. and now expects to complete the move by April 3, 2018.
In a statement by the company Broadcom says that its proposal to acquire Qualcomm has always been premised on the completion of its previously announced plan to redomicile. In both the definitive merger agreement that Broadcom provided to Qualcomm and in the revised version.

One of the closing conditions was that Broadcom redomicile to the U.S., and in neither party's draft was the closing of the proposed acquisition conditioned on CFIUS clearance.

“In short, U.S. national security concerns are not a risk to closing, as Broadcom never plans to acquire Qualcomm before it completes redomiciliation,” the company writes.

And to be fair, Broadcom's plan to move to the US is and has been public since last November. This plan was first announced in the White House when Hock Tan, Broadcom's President and Chief Executive Officer, made the plan public alongside President Trump, as seen below.


Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
September 21 2018 11:51 am V11.0.0-2