Broadcom Inc. AVGO and VMware Inc. VMW expect to close their merger Wednesday after receiving all necessary regulatory approvals, the companies said Tuesday morning. The companies had been waiting on China to approve the $61 billion deal, which had been announced in May 2022. Broadcom and VMware listed China Tuesday as one of the companies that had given the deal legal merger clearance. Broadcom shares were off more than 3% in premarket trading Tuesday, while VMware’s stock was down more than 4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.