Broadcom will finish redomiciling in April, one month early
Instead of May 6, the closing date is now expected to be April 3, just two days before Qualcomm’s rescheduled shareholders vote. Broadcom hopes that investors will elect its nomination for board members to steer the influential San Diego-based chipmaker to being acquired for $117 billion.
The delay in the vote is because of a Committee on Foreign Investments in the United States investigation into Broadcom’s offer for Qualcomm. It has set out 30 days to look at any national security impacts that may take hold if the deal went through. Broadcom claims that it will fall out of CFIUS scrutiny once it completes domestication, though the sub-agency housed by the US Treasury has required the company to give five business days’ notice before redomiciling is set to close.
It is reported that Intel has expressed interest in acquiring Broadcom should a Qualcomm takeover appear imminent.