Broadcom affirms VMware acquisition close date, announces CMA clearance

Broadcom (AVGO) affirmed its expectation that its acquisition of VMware (VMW) will close on October 30 and provided an update on its progress with various regulatory agencies. On August 21, Broadcom received final transaction approval from the United Kingdom’s Competition and Markets Authority. This follows legal merger clearance in the European Union, as well as in Australia, Brazil, Canada, Israel, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions. In the U.S., the Hart-Scott-Rodino pre-merger waiting periods have expired, and there is no legal impediment to closing under U.S. merger regulations. Broadcom continues to work with regulators in other jurisdictions and is in the advanced stages of the process toward obtaining the remaining required regulatory approvals, which Broadcom believes will be received before October 30. Accordingly, together with VMware, Broadcom has agreed to further extend the Outside Date as contemplated in the transaction agreement, as will be further described in a Form 8-K to be filed by VMware with the U.S. Securities and Exchange Commission.