VMware shareholders have until 5 p.m. Eastern time on Monday to decide whether to get cash or stock as part of Broadcom’s scheduled $75 billion-plus purchase of the software company.
The companies issued a joint press release on Wednesday about the election deadline for VMware shareholders on Monday, but noted those who hold shares through a bank or broker may be subject to an earlier election deadline. The stock election is worth about $215, while the cash option is worth $142.50. That is a huge gap and reflects the run-up in Broadcom stock since the merger deal was unveiled in May 2022.
There have been some questions lately on Wall Street about whether the deal will get done due to tensions between the U.S. and China and that has depressed VMware stock. The Financial Times reported Thursday, citing people familiar with the matter, the Chinese State Administration of Market Regulation is likely to delay signing off on the deal and there will likely be additional consultations with Chinese government authorities.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »