Broadcom Financial News

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Broadcom's planned $61-billion takeover of cloud computing firm VMware, which the US chipmaker said should be completed by the end of October. The Competition and Markets Authority last month gave its provisional approval to the deal announced in May 2022, and said on Monday that «its final decision is that the deal does not substantially reduce competition — clearing it to proceed in the UK». Broadcom is seeking to expand into the software market to boost its server business and has already acquired two complementary firms, CA Technology and Symantec. VMware's key product allows different clients to share computer servers by creating what is called a virtual server. British regulators conducted a more in-depth probe into whether the merged company would have an interest in hobbling rivals by making its products work less well or be incompatible. It also examined whether the merged company would gain undue advantage by rivals needing to submit information to make their products interoperable. The CMA found that restricting product interoperability would cause the merged company greater financial losses than gains, and that it would not gain competitive advantage when rivals provided it with product information to ensure that interoperability. «In this case, having carefully considered the evidence and found no competition concerns, we have concluded the deal can go ahead,» said Richard Feasey, chairman of the independent panel that carried out the in-depth probe of the merger. The European Union gave its approval to the merger last month and Broadcom said on Monday that United States authorities did not take action to block the deal during the statutory waiting period. In a statement, Broadcom «affirmed its expectation

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Stocks that traded heavily or had substantial price changes on Wednesday: Carvana, Constellation Brands rise; Omnicom, ASML Holding fall

Computer chip and software maker Broadcom’s $61 billion plan to buy cloud technology company VMware has cleared another hurdle after Britain’s competition regulator gave the deal provisional clearance

Investing.com — Here is your Pro Recap of 4 head-turning deal dispatches you may have missed last week: uncertainties loom around the Microsoft-Activision deal; Broadcom-VMware receives EC approval; Exxon Mobil to acquire Denbury; and Stratasys receives a sweetened offer from 3D Systems.

Nasdaq after a report showed inflation subsided further with consumer prices registering their smallest annual increase in more than two years. The data underscored expectations the Federal Reserve may let interest rates stand after one more 25 basis point hike expected at its July policy meeting. Shares of big tech-related companies, which tend to be sensitive to higher interest rates, gave the S&P 500 its biggest boost.

By Foo Yun Chee

Broadcom's planned $61-billion takeover of cloud computing firm VMware on Wednesday after the company offered remedies to ease competition concerns. The massive deal raised fears that it would stifle competition following its announcement in May 2022, prompting probes by antitrust watchdogs in the European Union and Britain.

Computer chip and software maker Broadcom’s $61 billion proposed purchase of cloud technology company VMware got the green light from European Union regulators who were satisfied by concessions to ease competition fears

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