Broadcom’s acquisition of VMware is approaching. The so-called go-shop period, in which other candidates can post an offer, has expired. No one but Broadcom announced their intent.
After Broadcom’s announcement of the acquisition, a ‘go-shop period’ of 40 days kicked in. The period allows other interested parties to acquire the organization at hand. VMware is legally required to consider offers. The period ended on 5 July 2022. No candidate came forward.
Bloomberg writes that the go-shop period was an important part of the $61 billion deal. VMware reportedly agreed to limit talks with interested companies during the period. The acquisition is one step closer now that the period has expired.
Broadcom still has an important hurdle to overcome. The deal requires approval from multiple regulators. The entire process is expected to take a year.
VMware’s share price has fallen by 8.2 percent since the acquisition’s announcement.