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Breaking: UK's CMA Greenlights Broadcom’s Acquisition of VMware

  • August 21st, 2023
  • 254 views

In a significant development, the UK's Competition and Markets Authority (CMA) has given its green light to Broadcom Inc.'s (Nasdaq: AVGO) ambitious $69 billion acquisition of VMware, Inc. (NYSE: VMW), following a comprehensive Phase 2 investigation.

Broadcom, a global technology heavyweight known for its hardware components in computer servers, has been pursuing the acquisition of VMware, a key player offering software solutions and services to optimize server operations.

The journey towards this approval began with an initial Phase 1 inquiry by the CMA, where competition concerns surfaced. This led to a more intensive Phase 2 scrutiny. The findings from this deep dive revealed that Broadcom's acquisition of VMware would not substantially hinder competition in the market for server hardware components within the UK.

One of the main points of consideration was the potential impact on rival products' compatibility with VMware's server virtualization software. Despite concerns, the panel concluded that any potential financial gains for Broadcom and VMware from restricting compatibility would be outweighed by the detrimental financial repercussions.

Addressing another concern, the panel delved into the possibility of stifling innovation and sensitive information sharing among Broadcom's competitors and VMware. Ultimately, the panel found these concerns to be less likely to manifest, given the timing of information sharing and its limited potential benefit to Broadcom.

After a consultation period on the initial findings and taking into account feedback from various stakeholders, the panel has reached its final verdict. The acquisition is deemed not to significantly curtail competition, effectively paving the way for the deal to proceed in the UK.

In pre-market, $AVGO was trading at $829.26, up $3.42 (+0.41%), while $VMW was trading at $164.25, showing an increase of $9.38 (+6.06%)

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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