Broadcom Faces CFIUS Scrutiny Over Upcoming US Move

Law360 (March 12, 2018, 5:21 PM EDT) -- Broadcom revealed Monday that it will now finish shifting its legal domicile back to the U.S. ahead of Qualcomm’s upcoming shareholder vote, a month earlier than expected, a move the U.S. Treasury says violates an order from the Committee on Foreign Investment in the United States.

The twist is the latest in Singapore-incorporated Broadcom Ltd.’s $117 billion takeover campaign for California-based Qualcomm Inc., which includes a proxy fight to get six independent directors elected to its target’s board.

The hostile buyout effort has drawn attention from the CFIUS, which...
To view the full article, register now.