Broadcom and VMware Intend to close deal today
Broadcom and VMware have now received all required regulatory approvals and intend to close Broadcom’s USD 69 billion acquisition of VMware today.
In late October the companies provided an update on the transaction, stating that they expected to close the deal before the expiration of the merger agreement in November.
At this time, China's State Administration of Market Regulation (SAMR) had yet to approve the agreement, and while the companies did not provide any details on China's approval in the update, they did state that there is "no legal impediment to closing under U.S. merger regulations."
In a new press release, Broadcom states that it has received legal merger clearance in Australia, Brazil, Canada, China, the EU, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment control clearance in all necessary jurisdictions. There is no legal impediment to closing under US merger regulations.
It was back in May of 2022 when Broadcom announced that it would acquire all of the outstanding shares in VMware, in a transaction that values the enterprise software company at approximately USD 61 billion. Following the closing of the transaction, the Broadcom Software Group will rebrand and operate as VMware, incorporating Broadcom's existing infrastructure and security software solutions as part of an expanded VMware portfolio. In addition, Broadcom will assume USD 8 billion of VMware net debt.
