News

VMware Soars Amid Broadcom Takeover Reports

0

American chipmaker Broadcom is now in talks to acquire cloud computing and virtualization tech firm VMware Inc. in a deal likely to be worth over $50 billion.

Source: Financial Times

AVGO is down 4.55%, while VMW is up 19.10%.

A takeover could drive a windfall for Michael Dell, who purchased the firm in 2016, along with private equity firm Silver Lake in a $67-billion takeover of technology conglomerate EMC.

Dell currently chairs VMware, and owns some 36% of the firm’s outstanding shares, equivalent to $15 billion based on Friday’s closing price of $95.71, data from Sentieo show.

Any merger would indicate the active market for large technology deals, even with the sharp decline in valuations so far in 2022. Stock market capitalization stood at $40 billion on Friday, 20% lower than the start of the year.

Both VMware and Broadcom have yet to comment on the matter.

 

fxcoach

GameStop Shares Jump 2.5% After Rolling Out Self-Custodial Crypto and NFT Wallet

Previous article

Didi Shareholders Approve Delisting from NYSE Amid Ongoing Tech Probe in China

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News