Nov 19, 2017

Broadcom and Qualcomm move forward on other deals

Dan Primack, author of Pro Rata

Raimond Spekking via Wikimedia Commons

Broadcom hasn't yet gotten a "yes" on its takeover approach for Qualcomm, but both chipmakers are moving forward on other deals that could smooth their path to a mega-merger:

  • Broadcom on Friday closed its $5.5 billion purchase of networking switch maker Brocade, which was first announced last November.
  • Qualcomm is set to win "imminent" Japanese antitrust approval for its $38 billion takeover of Dutch chipmaker NXP Semiconductors, according to Reuters, with European approval expected by year-end.

Key move: Broadcom's recent decision to redomicile from Singapore to the U.S. seems to have gotten it over the final regulatory hurdles to buying California-based Brocade, as it had received antitrust approval in July but refiled in October with a U.S. body that oversees foreign investments. It also should aid in buying Qualcomm — although first it needs to make a higher offer.

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Illustration: Sarah Grillo/Axios

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  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 1,720,613 — Total deaths: 101,573 — Total recoveries: 399,991 — Total tested: 15,646,041Map.
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