Thursday, October 11, 2018

Broadcom: Fake Memo Circulating Among Congress On Acquisition

Broadcom, the semiconductor maker which has significant operations in Orange County, issued a statement on Wednesday evening, saying that it has become aware of a "fradulent memo" purpoted to be signed by the U.S. Department of Defense, circulating in Congress. Broadcom said the memo--which it says has confirmed with Department of Defense officials is a forged document--had claimed that there is a need of review of Broadcom's acquisition of CA Technologies by the Committee on Foreign Investment in the United States (CFIUS). Broadcom--which is headquartered in San Jose now--said that since both it and CA Technologies are US companies, "there is no basis in fact or law for CFIUS review of our pending transaction." It's unclear who would have forged such a document, and how that document would make its way to Congress. Broadcom recently received antitrust approval on its acquisition deal, which is worth around $18.9 billion.