Shareholders of Avago approve merger With Broadcom

Avago Technologies Ltd. will move ahead with its merger with Broadcom Corporation, following a shareholder meeting Nov. 10 where shareholders overwhelmingly approved the business transaction.

Avago and Broadcom announced their merger agreement on May 28. The companies have received clearance on the 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 anticipates that these remaining approvals will be received and expects the transaction to close late in calendar year 2015 or early in 2016.

Avago Technologies is a designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products and complex digital and mixed signal CMOS based devices. Its product portfolio includes thousands of products in four primary target markets: wireless communications, enterprise storage, wired infrastructure and industrial, and other.