EU watchdog extends deadline on Broadcom-VMware decision to June 21 By Reuters

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EU watchdog extends deadline on Broadcom-VMware decision to June 21

Stock Markets Mar 14, 2023 10:36AM ET

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EU watchdog extends deadline on Broadcom-VMware decision to June 21

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BRUSSELS (Reuters) - EU antitrust regulators have extended their decision on U.S. chipmaker Broadcom (NASDAQ:AVGO)'s proposed $61 billion takeover of cloud computing company VMware (NYSE:VMW) by two weeks to June 21, the European Commission said on Tuesday.

The EU competition watchdog said the extension was agreed with Broadcom, which is looking to diversify into enterprise software.

The Commission is expected to warn Broadcom about potential anti-competitive effects of the proposed deal in the coming weeks, sources close to the matter have told Reuters.

The U.S. and UK antitrust agencies are also investigating the proposed acquisition.

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