Cloud computing and virtualization technology company Broadcom (NASDAQ: AVGO) provided a regulatory update on Monday regarding its $61 billion acquisition of VMware (NYSE: VMW), which is expected to close on October 30 this year.
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The company stated that its proposed acquisition of VMW has received regulatory approval from the UK’s Competition and Markets Authority (CMA). The acquisition has also received regulatory approval in the European Union (EU) as well as Australia, Brazil, Canada, Israel, South Africa, and Taiwan.
Broadcom added that the Hart-Scott-Rodino pre-merger waiting period has expired in the U.S. and as a result, “there is no legal impediment to closing under U.S. merger regulations.”
Analysts remain bullish about AVGO stock with a Strong Buy consensus rating based on 13 Buys and three Holds.