VMware up after EU antitrust approves Broadcom's $61 bln deal

VMware

12/07/2023 13:54

** Shares of cloud computing co VMware  VMW.N  rise 2.3% to
$155 premarket, $13 higher than the offer price of $142.50 in
Broadcom  AVGO.O  deal
    ** Shares of U.S. chip maker AVGO edges up 0.7% at $889
    ** Broadcom's $61 bln VMware deal wins European Union
antitrust approval after offering remedies to help rival Marvell
Technology  MRVL.O   
    ** Marvell and other rivals will also have guaranteed access
to the source code for all of Broadcom's Fibre Channel Host-Bus
Adapters through an irrevocable open source license, the EU
competition enforcer said
    ** Broadcom's largest ever deal will help the chipmaker
diversify into enterprise software
    ** YTD, AVGO stock up 57% and VMW up 23% through last close 

 (Reporting by Zaheer Kachwala in Bengaluru)
 ((Zaheer.Kachwala@thomsonreuters.com;))