Singapore-based chipmaker Broadcom is set to win EU antitrust approval for its $5.5 billion bid for Brocade after agreeing to modest concessions in the latest consolidation deal in the chip sector, three people familiar with the matter said on Tuesday.
Broadcom, formerly Avago Technologies, is known for its connectivity chips used in products ranging from mobile devices to servers, while California-based Brocade makes networking switches, software and storage products.
The sector has seen a wave of consolidation in recent years as chipmakers scale up in response to the growing market in connected devices and cars.
Broadcom, which wants to grab a larger share of the data center products market via the deal, offered concessions last month in a bid to address the European Commission’s concerns.
The Commission, which sought feedback from third parties, is expected to clear the deal by its scheduled May 12 deadline, according to the sources.
Full Content: Fortune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI