U.S. Markets Open Lower Despite $37B Deal Between Broadcom and Avago

U.S. markets started Thursday's trading session in the red despite a $37 billion mega deal in the chipmaking space.
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U.S. markets started Thursday's trading session in the red despite a $37 billion mega deal in the chipmaking space. It's official. Singapore based semiconductor maker Avago (AVGO) Technologies announced a deal to buy fellow chipmaker Broadcom (BRCM) in a deal valued at $37 billion in cash and stock. Under the terms of the deal, which is expected to close in the first quarter of 2016, Avago will pay $17 billion in cash and the equivalent of $20 billion worth of Avago's ordinary shares. FIFA is facing mounting pressure from sponsors as Visa (V) threatens to end the deal. Visa said that the twin U.S. and Swiss investigations into alleged corruption that resulted in the arrest of seven soccer officials could prompt the company to end its agreeement. Visa's current runs until 2022.