VMware sinks on China approval uncertainty for Broadcom deal

VMware

17/10/2023 14:40

** Shares of cloud computing firm VMware  VMW.N  fall 11.5%
to $158.01
    ** There is a headline from about an hour ago that China
could block the Broadcom  AVGO.O  deal - Dennis Dick, market
structure analyst at Triple D Trading
    ** "You're seeing risk arbitrage traders just sell first,
ask questions later so they are hitting VMware very
substantially this morning"
    ** Chipmaker Broadcom had last year said it would acquire
VMW in a $61 bln cash-and stock deal
    ** Shares of AVGO fall 2.5% to $881 
    ** As of last close, VMW shares have gained ~46 YTD



 (Reporting by Samrhitha Arunasalam)
 ((Samrhitha.A@thomsonreuters.com))