VMW - Broadcom waiting for European Union before responding to FTC on VMware - report

2023-06-09 10:24:55 ET

Broadcom ( NASDAQ: AVGO ) is waiting to hear back from the European antitrust regulators on their review of its $61 billion planned acquisition of VMware ( NYSE: VMW ) before responding to a Federal Trade Commission second request.

Broadcom ( AVGO ) has completed all the work needed to be done to certify with the FTC, according to a Dealreporter item on Friday, which cited people familiar with the matter. The companies received a second request from the FTC last July.

Broadcom ( AVGO ) submitted remedies to the European Commissio n on May 16, and a market test of the remedies is underway, according to reports from Dealreporter and CTFN. The EC has a July 17 deadline to make a decision on the deal.

In late March, the UK's Competition and Markets Authority moved its review of VMware/Broadcom into a Phase 2, or an in-depth investigation .

Broadcom's ( AVGO ) planned $61 billion purchase of VMware ( VMW ) was extended until Aug. 26 last month.

More on VMware, Broadcom

• What Is VMware Worth If The Broadcom Deal Fails?
• Why I'm Not That Concerned About The Broadcom VMware Deal Breaking
• VMware potential deal price break raised to $115 from $100 at UBS

For further details see: