They can kick the cab all day long, but they did kick it.
https://www.crn.com/news/channel-news/broadcom-vmware-push-merger-deadline-past-thanksgiving-on-61b-deal
Passing it on the the peanut gallery.
11 replies (most recent on top)
The initial outside date was on Feb 26th. Outside dates can be only extended in block of 3 months for maximum of three times. The first time extension was made back in Feb to May 26th. At the time of extension itself, the EU decision date was set for June. Since the second extension date was short of the final EU date, It was already understood and 100 percent sure that BC and VMW will have to extend it for second time before May 26th. Nothing surprising here..... now the EU decision date is set as July 17th. This time outside date is well beyond that. So the third time extension of outside date to Oct 26th will happen only if EU pushes the decision date beyond the current outside date of August 26th which I don't think will happen.... by July 17th it is either a No or Yes...
Absolutely incorrect. Broadcom's fiscal year ends in the last day of October and we have been told they needed to close it before this date. Now the new date for merger closeure can go past Thanksgiving on Nov 26.
Does it mean the deal will not close? I don't know. But this is definitely news and a sign that things aren't going as smoothly as Broadcom and MD wanted.
We were told from the very beginning that the ultimate deadline would be end of Broadcom FY23. So, Oct/Nov 2023. The earlier outside dates were very optimistic.
Nothing here goes against the information we were told at the beginning.
Now, a four-MONTH delay would be "we are in trouble."
From el reg:
A Friday filing reported a mutual notice to extend the Outside Date to August 26, 2023. The previous outside date was May 26.
Someone check my math but May to August IS a four-MONTH delay.
Get this cr-p over with already.
This is ridiculous... They were so damn confident of "by this fiscal year", now they are like "oh cr-p, I think we are in trouble"
A four-week delay is not "we are in trouble." It's "the EU has spent more time deliberating this than we expected."
Now, a four-MONTH delay would be "we are in trouble."
MD seems desperate at this point, customers don't want this to go through.
This is not news or more uncertainty… it was never going to complete by May and is likely to also be extended again as completion not likely before October…. We should see regulatory news in June/July and a ramp to closure from there
This is ridiculous... They were so damn confident of "by this fiscal year", now they are like "oh cr-p, I think we are in trouble"
Meanwhile more anxiety and uncertainty for existing employees
They are quietly being replaced by AI… give it time.
FTC. Why are they so quiet?