Why Broadcom-Merger Bound Cloud Computing Company VMWare's Shares Are Gaining Today
Portfolio Pulse from Shivani Kumaresan
Shares of VMware Inc (VMW) are rising after an update that Broadcom Inc's (AVGO) acquisition of VMware will close soon. The merger has received legal clearance in multiple jurisdictions, with no legal impediment under U.S. regulations. Each VMware stockholder will receive $142.50 in cash or 0.2520 of a share of Broadcom common stock for each share of VMware. Approval in China, the last major hurdle, is still pending.
October 30, 2023 | 11:39 am
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POSITIVE IMPACT
Broadcom's acquisition of VMware is nearing completion, with legal clearance received in multiple jurisdictions. The deal terms involve offering $142.50 or 0.2520 of a Broadcom share for each VMware share.
The nearing completion of the acquisition of VMware is a positive development for Broadcom. The deal terms, offering $142.50 or 0.2520 of a Broadcom share for each VMware share, are likely to be viewed favorably by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
VMware's shares are rising as the acquisition by Broadcom nears completion. Stockholders will receive $142.50 or 0.2520 of a Broadcom share for each VMware share.
The nearing completion of the acquisition by Broadcom is a positive development for VMware, leading to a rise in its share price. The deal terms are also favorable for VMware stockholders, which is likely contributing to the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100