Shares of cloud-computing infrastructure company VMWare (NYSE: VMW) are up 30% in the last week as of Thursday afternoon, according to data from S&P Global Market Intelligence . That's because rumors of semiconductor giant Broadcom (NASDAQ: AVGO) negotiating a deal proved true. If Broadcom has its way, VMWare will have a new home some 15 years after getting partially spun off from EMC in 2007. EMC is now part of Dell Technologies (NYSE: DELL) , which finished divesting its stake in VMWare in 2021.
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Broadcom is offering VMWare shareholders an option to take either $142.50 in cash for each share they own or 0.252 shares of Broadcom stock. As of market close Thursday evening, the stock is worth nearly $139 ($550.60 per share for Broadcom multiplied by 0.252).
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Why VMWare Stock Is Up 30% in the Last Week