U.S. Markets closed

Broadcom Stock Slides as Questions Mount About Its $19 Billion Bid for CA

Martin Cassidy

Broadcom CEO Hock Tan said the purchase would give the company a foothold in selling subscriptions to software for corporate IT businesses. "This transaction represents an important building block as we create one of the world's leading infrastructure technology companies," Tan said. Four months ago, President Donald Trump blocked Broadcom's $117 billion bid for fellow chip giant Qualcomm on grounds that the consolidation would threaten national security, as Broadcomm was headquartered in Singapore at the time.