Fly News Breaks for March 13, 2018
QCOM, CAVM, AVGO, MRVL
Mar 13, 2018 | 08:43 EDT
After President Trump signed an order prohibiting Broadcom's (AVGO) attempt to take over Qualcomm (QCOM), Benchmark analyst Gary Mobley said the news may cause investors to question CFIUS approval for the planned tie-up of Marvell (MRVL) with Cavium (CAVM). It is possible Marvell may have to re-domicile in the U.S. from Bermuda, which may delay the merger by a few months and would increase Marvell's tax rate unfavorably, he said. Mobley, who think it is hard to say whether the President will shoot down the deal, noted that CFIUS and China's MOFCOM are the last two regulatory hurdles for Marvell and Cavium's deal. He has a Buy rating on Marvell shares.
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