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Broadcom plans to close VMware acquisition today

Update time : 2023-11-27 10:15:54

Broadcom said it plans to close its acquisition deal for cloud computing company VMware on November 22nd. The deal has now been approved by all regulators after China approved the acquisition on Nov. 21 with additional restrictive conditions.
Broadcom noted that the company has received legal merger clearance in Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment control clearance in all necessary jurisdictions. According to U.S. merger and acquisition regulations, there are no legal obstacles to merger and acquisition transactions.

Broadcom said last May that it was buying VMware for $61 billion in equity and the rest in debt, aiming to diversify into enterprise software.
It is reported that on the evening of November 21, the General Administration of Market Supervision in mainland China issued an announcement on the additional restrictive conditions to approve the antitrust review decision in the case of Broadcom's acquisition of equity interests in VeriSign, which requires both parties to the transaction and the post-centralization entity to sell Broadcom's Fibre Channel adapters, storage adapters, and Ethernet cards (hereinafter referred to as the relevant hardware products) and VMware's servers to the domestic market in mainland China When selling Broadcom's Fibre Channel adapters, storage adapters, Ethernet network cards (hereinafter referred to as the relevant hardware products) and VMware's server virtualization software to the market in mainland China, the parties and the post-concentration entity shall not, without justifiable reasons, engage in tying sales in any way or attach any other unreasonable trading conditions; shall not hinder or restrict customers from purchasing or using the aforesaid products individually; and shall not discriminate against customers purchasing the aforesaid products individually in terms of the level of service, price or features.

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