CTXS - Citrix Systems wins European antitrust approval for sale to Vista/Elliott

Citrix Systems ( NASDAQ: CTXS ) received European Commission approval for its planned sale to private equity firms Elliott Management and Vista Equity.

The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies' limited combined market position resulting from the proposed transaction, according to a posting on the agency's website. The transaction was examined under the simplified merger review procedure.

The news comes after Broadcom on Monday announced that Tom Krause, who resigned as president of Broadcom Inc.'s ( AVGO ) software group, will become the CEO of the company being formed by the combination of Citrix and Tibco Software. Krause will become CEO after Citrix's ( CTXS ) planned $16.5 billion sale to Vista Equity and Elliott's Evergreen Coast.

The European approval news is another positive development for the Citrix ( CTXS ) sale after Bloomberg reported on Tuesday that Bank of America has started to canvas investors to see their interest in part of $15B in debt for the CTXS deal.

Also see from Wednesday, Millennium trading pod said to be shuttered after bets on Twitter, Citrix Systems.

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