FT: Beijing weighs delaying approval of US$69b Broadcom-VMware deal

A smartphone with a displayed Broadcom logo is placed on a computer motherboard in this illustration taken March 6, 2023.

Broadcom said in May 2022 it would acquire VMware in a deal consisting of US$61 billion in equity and the rest in debt, the chipmaker’s biggest and boldest bid to diversify its business into enterprise software.Broadcom received legal merger clearance in Australia, Brazil, Canada, the European Union, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions, the company said in July.

The deal has been probed previously by UK’s Competition and Markets Authority that approved the deal following an in-depth investigation. The chipmaker also secured EU antitrust approval of the deal this year after offering remedies to help rival Marvell Technology, so the companies can compete on the same level.

China has been closely monitoring deals involving chipmakers. Earlier this year, Intel Corp scrapped its US$5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China. — Reuters

Source: News Formal (newsformal.com)

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Putin speaks at China’s infrastructure summit in BeijingBEIJING: Russian President Vladimir Putin addressed international delegates at the Belt and Road forum in Beijing on Wednesday, saying that Russia and...
Source: theSundaily - 🏆 25. / 51 Read more »

Putin praises China’s Belt and Road ‘success story’ at forum in BeijingBEIJING: Russian President Vladimir Putin praised China’s “success” in its Belt and Road infrastructure project at a forum of international delegates ...
Source: theSundaily - 🏆 25. / 51 Read more »

Thai PM Srettha’s pink socks cause a stir in BeijingKUALA LUMPUR: The co-founder of a local airline, who has a Datuk title, along with his wife and son have been remanded for four days.
Source: staronline - 🏆 4. / 75 Read more »

Xi hails Putin’s friendship, deep ties between Beijing and MoscowThe Chinese president met the Russian leader for talks on the sidelines of the BRI forum.
Source: fmtoday - 🏆 5. / 72 Read more »

China rebukes US over latest chip restrictionsWashington further limited Beijing’s access to cutting-edge technologies yesterday.
Source: fmtoday - 🏆 5. / 72 Read more »

Putin seen with officers carrying Russian nuclear briefcaseHe was filmed walking to another meeting in Beijing surrounded by security.
Source: fmtoday - 🏆 5. / 72 Read more »