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Singapore-based Broadcom to redomicile to U.S. by April 3

Reuters 

(Reuters) - Singapore-based Ltd said on Monday it expects to redomicile to the by April 3, two days before the chipmaker's acquisition target Inc holds its annual shareholder meeting.

Broadcom's $117 billion offer to buy California-based is being reviewed by the in the (CFIUS) for potential national security threats.

said such security concerns were not a risk to the closure of the proposed buyout as it never planned to finish the deal before completing moving its official base to the

is incorporated in and co-headquartered there and in Irvine,

Broadcom said last week that CFIUS has ordered the company to provide it with five business days' notice before taking any action toward moving base to the United States.

The requirement showed that CFIUS, an inter-agency panel led by the U.S. Treasury, was aware that its jurisdiction could be contested if Broadcom redomiciles to the United States.

CFIUS had delayed Qualcomm's annual meeting by a month to April 5. In that meeting, shareholders will also vote for Broadcom's slate of six nominees for Qualcomm's 11-member board.

Since disclosing its first bid, worth $103 billion, for on Nov. 6, Broadcom has revised its bid twice, but is yet to strike a deal.

Days before the first bid in November, U.S. said Broadcom planned to redomicile to the United States from

(Reporting by in Bengaluru; Editing by and Savio D'Souza)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 16:28 IST
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