The European Commission is also seeking "interim measures" to bar Broadcom from enforcing exclusivity agreements with customers.
The combined company’s sales would place it among the top 10 chipmakers globally.
After six years at Qualcomm, George Davis joins Intel at a time when "Wall Street is hoping for greater financial discipline at the chip giant."
The chipmaker believes the deal will help “extend our computing reach from the server, where we are today, out to the entire data center."
The chipmaker's cryptocurrency-mining business collapsed in the second quarter and it now expects a “negligible” revenue contribution in the future.
Investors question the logic behind the chipmaker's $18.9 billion acquistion of enteprise software firm CA Technologies.
The repurchase program signals a change in Broadcom's capital allocation strategy since the demise of its takeover bid for Qualcomm.
The $6 billion deal will complement Marvell's chips for storage devices with Cavium's network and communications products.
The takeover proposal, the largest in tech history, would create the world's No. 3 chipmaker but Qualcomm appears set to reject it as inadequate.
