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Broadcom Affirms Expectation VMware Deal Will Close On Schedule
(RTTNews) - Broadcom, Inc. (AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, on Monday affirmed its expectation that its acquisition of VMware, Inc. (VMW) will close on October 30, 2023, and provided an update on its progress with various regulatory agencies.
On August 21, 2023, Broadcom received final transaction approval from the United Kingdom's Competition and Markets Authority.
This follows legal merger clearance in the European Union, as well as in Australia, Brazil, Canada, Israel, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions.
In the U.S., the Hart-Scott-Rodino pre-merger waiting periods have expired, and there is no legal impediment to closing under U.S. merger regulations.
Broadcom continues to work constructively with regulators in other jurisdictions for regulatory approvals, which Broadcom believes will be received before October 30, 2023.
Accordingly, VMware and Broadcom have also agreed to further extend the Outside Date as contemplated in the transaction agreement.
Broadcom said it is confident that the combination with VMware will enhance competition in the cloud and benefit enterprise customers by giving them more choice and control over where they locate their workloads.
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