Broadcom's $69 billion acquisition of VMWare receives conditional approval from Chinese regulators, with deal set to close on Wednesday

According to news from this site on November 21, Broadcom said on Tuesday that it plans to complete its US$69 billion (this site’s note: currently approximately 494.73 billion yuan) acquisition of cloud computing company VMWare on Wednesday.

Broadcom is said to have announced that its acquisition has been conditionally approved by China’s State Administration for Market Regulation and has now received the necessary regulatory approvals , the acquisition transaction is expected to be completed on November 22

According to the review decision of China’s State Administration for Market Regulation,the merged company cannot abuse its market position in several areas, including continuing to guarantee the authority The interoperability between Rui's server virtualization software and third-party related hardware products sold in the Chinese domestic market.

VMWare is the world's leading provider of cloud infrastructure and mobile commerce solutions, while Broadcom is the world's leading wired and wireless communications semiconductor company. Broadcom announced its intention to acquire VMWare at a price of US$142.50 per share, totaling approximately US$61 billion. In addition, Broadcom will assume VMware's $8 billion in net debt

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