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U.S. says Broadcom violated order in process of moving domicile


(Reuters) - Chipmaker Broadcom Ltd violated a U.S. Treasury Department order by not giving sufficient notice to a national security panel of its plans to redomicile in the United States, the Treasury said in a letter to the Singapore-based company.The Treasury's complaint potentially complicates Broadcom's unsolicited $117-billion offer to buy rival Qualcomm Inc, which is being reviewed by the Committee on Foreign Investment in the United States (CFIUS) for potential national security threats.Broadcom, incorporated in Singapore and co-headquartered there and in San Jose, California, is ...

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First Published: Mon, March 12 2018. 20:52 IST