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The Federal Trade Commission (FTC) is investigating whether chipmaker Broadcom Ltd engaged in anticompetitive tactics in negotiations with customers, the company said on Wednesday.
The investigation comes as Broadcom pursues a hostile takeover of Qualcomm in a $103 billion deal. Since the FTC would likely review any merger for anticompetitive practices, the current probe could make regulatory approval more challenging.
Broadcom was recently issued subpoenas that seek an extensive amount of information, according to The Wall Street Journal, which was the first to report the probe on Wednesday.
The focus of the concern has been that Broadcom has changed some contracts to require customers to buy a percentage of its production of items rather than a certain number, the paper reported.
"This FTC review is immaterial to our business, does not relate to wireless and has no impact on our proposal to acquire Qualcomm," Broadcom said in a statement.
Source: Reuters
(Score: 2) by frojack on Friday January 19 2018, @06:53PM
In addition to this, Broadcom is in the midst of of a hostile takeover attempt of Qualcomm, by sending out proxy material to all Quallcomm stock holders trying to entirely replace the board (with their own slate of stooges), roll back Qualcomm board's previous actions, restate Qualcomm's certificate of incorporation to remove impediments.
Its as brazen as I've ever seen.
https://www.prnewswire.com/news-releases/broadcom-files-definitive-proxy-materials-and-sends-letter-to-qualcomm-stockholders-300578442.html [prnewswire.com]
No, you are mistaken. I've always had this sig.