Broadcom Ltd., which has been in the process of relocating its headquarters from Singapore to San Jose since November, said March 12 it would complete the move a month earlier than previously planned.
The new timing would mean the relocation would be complete before Qualcomm shareholders vote on whether to keep its current directors or replace a majority with Broadcom-backed nominees.
Broadcom is vying to acquire Qualcomm; the San Diego semiconductor business has rebuffed its offers as undervaluing the company.
The announcement comes less than a week after a U.S. government panel, the Committee on Foreign Investment in the United States (CFIUS), directed Qualcomm to postpone by 30 days its annual meeting slated for March 6 so it could investigate whether the acquisition would threaten national security.
Qualcomm has moved the meeting to April 5.
Previously Broadcom had said it would "redomocile" by May 6. But its acceleration of the move to be completed as soon as April 3, which it said should allay any national security fears, appears to have violated the CFIUS order from the week prior.
The panel said it had ordered the meeting postponed to preserve the status quo while the potential transaction was scrutinized, but that Broadcom's actions to hasten its relocation to the U.S. were done without proper notification to CFIUS.
Broadcom, in its March 12 statement, disagreed, citing its public disclosures about the process and its communications with the committee.
Nonetheless, CFIUS appears poised to block the transaction. In a letter, the committee said its investigation so far has confirmed its suspicions that the transaction would harm national security. Barring information that changes that assessment, the committee said it may refer any decision on the transaction to President Donald Trump.
Last week, in the wake of the CFIUS order, Qualcomm shuffled the makeup of its board. Paul Jacobs, son of company founder Irwin Jacobs, stepped down as executive chairman, though he remains on the board. Jeffrey Henderson, an independent director, was named non-executive chair.
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