Broadcom plans to complete its acquisition of VMware today
Broadcom stated that it plans to complete the acquisition of cloud computing company VMware on November 22nd. After China approved the acquisition with additional restrictive conditions on November 21st, this transaction has now been approved by all regulatory authorities.
Broadcom pointed out that the company has obtained legal merger licenses in Australia, Brazil, Canada, Chinese Mainland, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, China, and the United Kingdom, and has obtained foreign investment control licenses in all necessary jurisdictions. According to US M&A regulations, there are no legal barriers to M&A transactions.
Broadcom announced in May last year that it would acquire VMware for $61 billion in equity and other debt, with the aim of diversifying enterprise software.
It is reported that on the evening of November 21, the Chinese Mainland Market Supervision Administration issued the announcement on the decision of the antitrust review on the approval of additional restrictive conditions for Broadcom's acquisition of Weirui's equity, which requires both parties to the transaction and the centralized entity to sell Broadcom's Fibre Channel adapter, storage adapter, Ethernet network card (hereinafter referred to as relevant hardware products) and VMware's server virtualization software to the domestic market of the Chinese Mainland without justified reasons, Not to engage in tying sales in any way or attach any other unreasonable trading conditions; Do not obstruct or restrict customers from purchasing or using the aforementioned products separately; Customers who purchase the above products separately shall not be discriminated against in terms of service level, price, or functionality.
Broadcom announced in May last year that it would acquire VMware for $61 billion in equity and other debt, with the aim of diversifying enterprise software.
It is reported that on the evening of November 21, the Chinese Mainland Market Supervision Administration issued the announcement on the decision of the antitrust review on the approval of additional restrictive conditions for Broadcom's acquisition of Weirui's equity, which requires both parties to the transaction and the centralized entity to sell Broadcom's Fibre Channel adapter, storage adapter, Ethernet network card (hereinafter referred to as relevant hardware products) and VMware's server virtualization software to the domestic market of the Chinese Mainland without justified reasons, Not to engage in tying sales in any way or attach any other unreasonable trading conditions; Do not obstruct or restrict customers from purchasing or using the aforementioned products separately; Customers who purchase the above products separately shall not be discriminated against in terms of service level, price, or functionality.