FTC Lays out Terms for Broadcom-Brocade Tie-Up -- Market Talk
July 03 2017 - 1:11PM
Dow Jones News
13:42 ET - Broadcom (AVGO) has agreed to set up a so-called
firewall to address regulatory concerns over its proposed $5.5B
acquisition of Brocade Communications Systems (BRCD). The Federal
Trade Commission had raised concerns over AVGO's potential access
to confidential information of BRCD's major competitor, Cisco
Systems (CSCO). The consent order says AVGO, a supplier to both
companies, has to maintain separate tech systems and facilities in
managing its continuing relationship with CSCO. The FTC will also
appoint a monitor to oversee compliance with the proposed
arrangement for at least five years. The agreement is subject to
public comment through Aug. 2. (maria.armental@wsj.com;
@mjarmental)
(END) Dow Jones Newswires
July 03, 2017 13:56 ET (17:56 GMT)
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