Avago Shareholders Approve Merger With Broadcom
Avago Technologies Limited has announced that, at its shareholder meeting held earlier today, its shareholders have voted overwhelmingly to approve their previously announced business combination transaction with Broadcom Corporation, with over 99% of the votes cast by Avago shareholders voted in favor of the transaction.
Avago and Broadcom announced their merger agreement on May 28, 2015. The companies have received clearance on their proposed merger from the Committee on Foreign Investments in the United States and antitrust authorities in the United States, Japan and Taiwan. Among other customary conditions to closing, the transaction remains subject to regulatory approvals from the European Commission and antitrust authorities in China and South Korea, all of which are progressing. Avago currently anticipates that these remaining approvals will be received and expects the transaction to close late in calendar year 2015 or early in 2016.
