Pentagon memo calling for Broadcom review is fake, company says

An official-looking memo on Department of Defense letterhead began circulating on Capitol Hill this week, urging lawmakers to call for a national security review of Broadcom’s proposed $19 billion acquisition of CA Technologies.

The only problem?

“We have been informed by [Department of Defense] officials that this memo is in fact a forged document,” Broadcom said in a statement.

It remains unclear who wrote the memo, or why. Broadcom shares fell 5 percent on Wednesday amid a broad, marketwide selloff of tech stocks.

On Wednesday, Sen. Rand Paul, R-Kentucky, issued his own memo, calling for a national security review of the deal, saying it didn’t matter that Broadcom had moved its legal address from Singapore to San Jose. Earlier this year, the Trump administration blocked Broadcom’s $117 hostile takeover of Qualcomm, citing national security concerns.

Soon after, Broadcom changed its legal address from Singapore to San Jose, where it already had its main campus.


Read the full story from the Washington Business Journal.

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