<p class="bodytext">Singapore-based chipmaker Broadcom, which is seeking to buy rival Qualcomm, plans to complete its move back to the United States by mid-May, according to sources familiar with the matter.</p>.<p class="bodytext">Wrapping up the move from Singapore and redomiciling in the United States relatively quickly could remove a roadblock to the proposed deal by calming concerns at the inter-agency Committee on Foreign Investment in the United States (CFIUS), which has the power to stop deals that could harm national security.</p>.<p class="bodytext">Broadcom said in November that it would return to the United States but did not say when the move would happen.</p>.<p class="bodytext">Broadcom shareholders will vote on the proposal by May 6, after which it must be confirmed by a judge. Once that happens, which is expected in early to mid-May, the redomiciling can happen quickly, according to a source familiar with the matter.</p>.<p class="bodytext">The entire process is likely to be wrapped up as soon as mid-May, the source added.</p>.<p class="bodytext">Broadcom was a US company until it was bought in 2016 by Singapore's Avago, which decided to use the name Broadcom.</p>.<p class="bodytext">Despite Broadcom's plans to move back to the United States, CFIUS has already shown an interest in the proposed transaction because Broadcom has proposed six directors for Qualcomm's 11-member board. The vote on that slate is set for Tuesday.</p>.<p class="bodytext">Broadcom has argued that CFIUS' concern is unwarranted since it does not control the directors that it proposed.</p>.<p class="bodytext">"Broadcom could not and will not control the Qualcomm board - the essential basis for CFIUS jurisdiction - in the event some or all of the independent, Broadcom-nominated directors are elected," the company said in a statement.</p>.<p class="bodytext">It also reiterated it was confident it would be able to win regulatory approval for a deal to buy Qualcomm within approximately 12 months of reaching an agreement.</p>.<p class="bodytext">Qualcomm has argued that Broadcom's $117 billion offer undervalues the company. Broadcom has accused Qualcomm of failing to negotiate seriously, saying they were involved in "engagement theater."</p>
<p class="bodytext">Singapore-based chipmaker Broadcom, which is seeking to buy rival Qualcomm, plans to complete its move back to the United States by mid-May, according to sources familiar with the matter.</p>.<p class="bodytext">Wrapping up the move from Singapore and redomiciling in the United States relatively quickly could remove a roadblock to the proposed deal by calming concerns at the inter-agency Committee on Foreign Investment in the United States (CFIUS), which has the power to stop deals that could harm national security.</p>.<p class="bodytext">Broadcom said in November that it would return to the United States but did not say when the move would happen.</p>.<p class="bodytext">Broadcom shareholders will vote on the proposal by May 6, after which it must be confirmed by a judge. Once that happens, which is expected in early to mid-May, the redomiciling can happen quickly, according to a source familiar with the matter.</p>.<p class="bodytext">The entire process is likely to be wrapped up as soon as mid-May, the source added.</p>.<p class="bodytext">Broadcom was a US company until it was bought in 2016 by Singapore's Avago, which decided to use the name Broadcom.</p>.<p class="bodytext">Despite Broadcom's plans to move back to the United States, CFIUS has already shown an interest in the proposed transaction because Broadcom has proposed six directors for Qualcomm's 11-member board. The vote on that slate is set for Tuesday.</p>.<p class="bodytext">Broadcom has argued that CFIUS' concern is unwarranted since it does not control the directors that it proposed.</p>.<p class="bodytext">"Broadcom could not and will not control the Qualcomm board - the essential basis for CFIUS jurisdiction - in the event some or all of the independent, Broadcom-nominated directors are elected," the company said in a statement.</p>.<p class="bodytext">It also reiterated it was confident it would be able to win regulatory approval for a deal to buy Qualcomm within approximately 12 months of reaching an agreement.</p>.<p class="bodytext">Qualcomm has argued that Broadcom's $117 billion offer undervalues the company. Broadcom has accused Qualcomm of failing to negotiate seriously, saying they were involved in "engagement theater."</p>