Hock Tan Broadcom CEO

Broadcom is close to closing an $18 billion acquisition of CA Technologies, an American software company, according to the Wall Street Journal.

If the deal does through, the $108 billion semiconductor company will pay $44.50 a share for CA in a deal that could go public on Wednesday, according to the report.

News of this deal comes just four months after President Trump blocked Broadcom from acquiring Qualcomm in a $103 billion hostile takeover on the grounds on national security.

Broadcom, which was based in Singapore, has made moves in recent months to increase its presence in the US. The company moved its headquarters to San Jose in April in an effort to secure the ultimately-blocked Qualcomm acquisition.

CA Technologies stock was up 15.6% in after hours trading immediately following reports of the deal. Shares of Broadcom were down 5.5%.

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Source:: Business Insider


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