Cloud computing company VMware Inc and chipmaker Broadcom Inc extended the date by which their $61 billion merger is to be completed by 90 days, according to a regulatory filing on Friday.
The new “outside date” for the deal is May 26, the filing said.
The Broadcom-VMware deal was one of the biggest announcements globally in 2022, marking the chipmaker’s attempt to diversify into the enterprise software segment.
Broadcom’s move comes as regulators worldwide ramp up scrutiny of deals by Big Tech.
Britain’s competition regulator in January said it had started the first phase of an investigation into the acquisition, while EU antitrust regulators in February have resumed their investigation and will decide by June 7 whether to clear or block the deal.
A Broadcom spokesperson said it was common for acquisitions of this size to extend their deal deadline.
“We are continuing to make progress with regulatory authorities around the world, and we continue to expect the transaction to close in Broadcom’s fiscal year 2023,” the spokesperson said.
Source: Reuters.com