VMware Stock Jumps 7% on U.K. CMA's Provisional Clearance of Broadcom Acquisition
<p><a href='https://financialmodelingprep.com/financial-summary/VMW'>VMware (NYSE:VMW)</a> stock jumped more than 7% pre-market today following the provisional clearance by the U.K.'s CMA for Broadcom's anticipated acquisition of the company. </p>
<p>The Competition and Markets Authority stated that, based on their preliminary findings, the acquisition of VMware by Broadcom is unlikely to result in a significant decrease in competition regarding the supply of server hardware components in the United Kingdom. However, it's important to note that this is not the final decision, as a final report is expected to be released on September 12, 2023.</p>
<p>In a separate development, the European Commission previously granted conditional approval for the deal in June. Under the terms of the agreement reached in May 2022, VMware will be acquired by Broadcom at a valuation of approximately $69 billion, with each VMware share exchanged for 0.2520 shares of Broadcom common stock.</p>

NYSE:VMW