Broadcom completes its $61 billion acquisition of VMware

Broadcom, the semiconductor manufacturing giant, has announced that its acquisition of cloud-computing firm VMware, worth $61 billion, has been completed after being under the scanner of regulators for months. The company has received all necessary approvals, including added restrictions from China.

The deal, which was announced in May 2022, was one of the largest deals globally. However, the transaction faced rigorous regulatory scrutiny worldwide, leading to the delay of the closing date three times.

China granted regulatory approval, on Tuesday, easing concerns among some investors that the company might not be able to close the deal before the November 26 deadline due to the ongoing tensions with the US over stricter chip export control measures.