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EU: Avago gets approval for $37 billion Broadcom buy

 |  November 23, 2015

European antitrust regulators has cleared Avago Technologies Ltd’s planned $37 billion takeover of rival chipmaker Broadcom Corp without conditions.

Spurred by demand for cheaper chips and new products to power internet-connected gadgets as well as the need to cut costs, the global semiconductor industry has seen a wave of consolidation this year, with the Avago, Broadcom deal among the biggest.

The European Commission said it had some initial concerns, but these were dispelled after Avago agreed to let other switch chipmakers have continued access to essential intellectual property on reasonable terms.

Full content: Reuters

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