Reuters reported on Monday that chip giant’s Broadcom’s (NASDAQ:AVGO) $61 billion proposed acquisition of VMWare (NYSE:VMW) could win conditional approval from the European Union (EU) antitrust regulator.
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However, the report stated that the EU’s conditional approval depends on “Broadcom’s interoperability remedies to rivals to address competition concerns.” The EU regulator is expected to decide on this acquisition by July 17.
Last month, an SEC filing indicated that AVGO expects the acquisition to close by August 26 as it faces regulatory scrutiny.
Analysts are bullish about AVGO stock with a Strong Buy consensus rating based on 13 Buys and two Holds.
