Broadcom Corp. shareholders today approved the Irvine-based chipmaker’s $37 billion sale to Avago Technologies Ltd. in Singapore.
The transaction, expected to close early next year, still needs regulatory and antitrust approvals in certain countries.
The combined company, which would take the name Broadcom Ltd., would become the third-largest chipmaker in the world, with annual revenue of about $15 billion.
It would be headquartered in San Jose, with Broadcom expected to maintain a sizeable presence here. The company appears committed to build a five-building campus next to Orange County Great Park that calls for 1.1 million square feet in its first phase.
It has similar plans for a campus in San Jose, as well.
Broadcom is OC’s largest chipmaker with some 2,400 local employees, a number that is expected to decrease after the deal finalizes.
Big takeovers typically translate into big layoffs, a hallmark of Avago’s prior acquisition history.
Broadcom shares are up slightly in afterhours trading after dipping 3.2% in the intraday session. Its market value is about $31.33 billion.