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Avago shareholders Approve Broadcom merger

Transaction expected to close late 2015, early 2016

Shareholders of Avago Technologies, a developer of analogue semiconductor devices with a focus on III-V based products and mixed signal chips, have voted overwhelmingly to approve the acquisition for $17 billion of the communications chip company Broadcom. 

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 US and antitrust authorities in the US, 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.

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