Summary:
The U.K.’s competition authority has announced its intention to approve Broadcom’s $69 billion bid for VMware, a virtualization software giant. This decision follows the European Commission’s approval of the deal last week, leaving the U.S. Federal Trade Commission as the final hurdle for Broadcom. The FTC is currently investigating the acquisition.
Key Points:
The U.K.’s competition authority plans to give provisional approval to Broadcom’s bid for VMware.
This decision comes after the European Commission approved the deal last week.
The U.S. Federal Trade Commission is the last regulatory body to review the acquisition.
The FTC is currently investigating the $69 billion bid by Broadcom.
Hot Take:
Broadcom seems to be clearing regulatory hurdles one by one in its bid to acquire VMware. With the U.K. competition authority giving provisional approval, it brings the company closer to its goal. However, the investigation by the U.S. Federal Trade Commission still looms, and its decision will ultimately determine the fate of this massive deal. It will be interesting to see how Broadcom navigates this final obstacle.
Conclusion:
Broadcom’s $69 billion bid for VMware has received provisional approval from the U.K.’s competition authority, following the European Commission’s approval last week. With the U.S. Federal Trade Commission investigation still ongoing, the fate of the acquisition remains uncertain. The tech industry eagerly awaits the final decision, which will have significant implications for both Broadcom and VMware.
Original article: https://techcrunch.com/2023/07/19/uk-provisionally-approves-broadcoms-69b-vmware-acquisition/
