https://www.reuters.com/markets/deals/eu-regulators-set-new-june-7-deadline-broadcom-vmware-deal-2023-02-15/
EU antitrust regulators have resumed their investigation into Broadcom's $61 billion bid for cloud computing company VMware and will decide by June 7 whether to clear or block the deal..
The saga continues !
Well. My understanding is the EU review was delayed, caused by BC's failure to provide all requested/supporting documentation for review. This action was within BC's control, so it's plausible a deliberate action to avoid exit penalties. Regardless, we're in for a bumpy ride whichever fork in the road is taken. For you youngsters hanging in there, you will learn a lot about business and yourself through this experience
"extend the outside date to May 26 2023"
Anyone understand why the new outside date is before the EU judgement of Jun 7th. Are BC creating a no fee exit strategy?
@1nhr+1ldWwOj1 The article title is misleading and poorly written. All they've done is extend the outside date to May 26 2023 which is 12 months after the agreement date which was May 26 2022. This isn't big.
https://www.channelnewsasia.com/business/vmware-broadcom-extend-merger-date-12-months-3287631
Date extended by another year. This is BIG news.
The new problem now, I would guess, is how to tread water for another four or five months.
Plenty of good managers will want to move on with their lives and careers, if they haven't already done so.
BC wants the technology; the people are 100% replaceable.
Just enjoy it. Let your bonus roll in. Get your RSUs that vest.
Right now with VMW not reporting financials to the broader market, we are under no pressure to do a big layoff, or restructure until this deal is done or stopped. (this little one we heard about a bit was mostly performance based).
One thing to remember is that all the structure of the deal is laid out to finish by Oct 31 of this year. Actually, broadcom could walkaway with no penalty after that date... If the FTC, SEC, EU, etc keep dragging this out eventually broadcom may get sick of it and just drop it.
Again not a good scenario for us, But we could stretch into the fall.
What I am hearing (without an EU or USGOV lawsuit being filed) we are now looking July time frame at best. Plan accordingly, vest those RSUs, stack up some cash reserves, enjoy.
Where are the well-connected pundits that swore that it would be done and dusted by Nov '22? They had daily calls with Hock and they knew what was happening!
I thought it would be over by now. No shares and no bonus. Looks like the shares will vest and we could be months away from completion.
There is a good chance the clock will be paused and restarted multiple times before the deal is closed. Just ask nvidia
Sigh. July is my 11 year anniversary. I was hoping to get that extra year on my record for the extra week of severance. But if they close and lay me off in June... Sigh.
This has a long ways to go yet…