Cloud computing firm VMware Inc and chipmaker Broadcom Inc prolonged the date by which their $61 billion merger is to be accomplished by 90 days, based on a regulatory submitting.
The brand new “outdoors date” for the deal is Might 26, the submitting mentioned.
The Broadcom-VMware deal was one of many largest bulletins globally in 2022, marking the chipmaker’s try and diversify into the enterprise software program phase.
Broadcom’s transfer comes as regulators worldwide ramp up scrutiny of offers by Big Tech.
Britain’s competitors regulator in January mentioned it had began the primary section of an investigation into the acquisition, whereas EU antitrust regulators in February have resumed their investigation and can determine by June 7 whether or not to clear or block the deal.
A Broadcom spokesperson mentioned it was widespread for acquisitions of this measurement to increase their deal deadline.
“We’re persevering with to make progress with regulatory authorities around the globe, and we proceed to count on the transaction to shut in Broadcom’s fiscal 12 months 2023,” the spokesperson mentioned.
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