Broadcom completes its move to the US from Singapore
Broadcom said on Wednesday it had completed its move back to the United States from Singapore, weeks after President Donald Trump blocked its $117 billion offer to buy Qualcomm on national security grounds.
Broadcom, which was a U.S. company until it was bought in 2016 by Singapore's Avago, had announced its plan to redomicile on Nov. 2, days before making its first offer for Qualcomm.
The company said it exchanged all shares of Broadcom Ltd. to newly issued stock of Broadcom Inc. on a one-for-one basis and that its stock would continue to trade under the same ticker.
Broadcom's existing co-headquarters in San Jose, California will become its sole headquarters, the company said.
The move to the United States could allow Broadcom to buy U.S. companies without coming under the scrutiny of the Committee on Foreign Investment in the United States (CFIUS), which has the power to stop deals that could harm national security.
Editor's Note: This is a guest post from CNBC.