Broadcom falls after Sen. Rand Paul questions CA Technologies merger


It would be the second major challenge to a Broadcom merger this year. President Donald Trump blocked the chipmaker’s proposed deal with Qualcomm in March, citing national security concerns within the Committee on Foreign Investment in the United States.

“If [CFIUS] were looking at Broadcom previously, just because Broadcom has changed their domicile to [the U.S.] doesn’t mean we shouldn’t still look at Broadcom,” Paul said, addressing Secretary of Homeland Security Kirstjen Nielsen.

Broadcom announced in July it had agreed to acquire CA Technologies $18.9 billion in cash. CA Technologies, which makes cloud-based and traditional enterprise software, would help diversify Broadcom, should the deal gain antitrust approvals in the U.S., the E.U. and Japan. The boards of both companies had already approved the deal.

—CNBC’s Chloe Aiello contributed to this report.

This story is developing. Please check back for updates.

Source link

Products You May Like

Articles You May Like

Pot stocks rally after Canopy Growth buys ebbu
Consider the jobs being wiped out by technology
Parents are in the dark about how much college will cost 
Student loan debt isn’t just a millennial problem 
Procter & Gamble shares jump on biggest sales gain in 5 years

Leave a Reply

Your email address will not be published. Required fields are marked *