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VMware, which had 40 days to solicit rival offers, may disclose the outcome of that effort, although its plans haven’t been finalized, said one of the people, who asked to not be identified because the matter isn’t public. VMware had until 11:59 p.m. Pacific time Tuesday to solicit other bids, according to the deal announcement in May.
Representatives for VMware and Broadcom couldn’t immediately be reached for comment.
The expiration of the go-shop gets Broadcom past at least one hurdle to the biggest-ever takeover by a semiconductor maker. The clause helped Broadcom secure a merger agreement with the company, a Silicon Valley pioneer that provides virtualization software.by TaboolaPromoted LinksYou May LikeMan Pulls Hidden String In Attic And Discovers Secret Room Filled With…HousediverAfter Centuries 2 Brothers Found The Oak Island TreasureHorizontimesChumlee Lost So Much Weight – This is Him NowCleverstMother sold her child’s bed. 3 days later the buyer made an incredible discovery!The Travel BreezeScientists Have Found a Promising Anti-Cancer Moleculehttps://googleads.g.doubleclick.net/pagead/ads?client=ca-pub-6144975740270314
Merger specialists surveyed by Bloomberg News in May said there was a low probability that a higher bid would emerge and expected the deal to take about 12 months to complete, due to the potential for multiple regulatory reviews.
VMware’s stock has fallen about 8.2% since the deal was announced on May 26, compared with a 3.9% decline in the tech-heavy Nasdaq Composite Index.
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