Broadcom expects $69 billion VMware deal to close before November deadline

U.S. chipmaker Broadcom expects its $69 billion buyout of cloud-computing firm VMware to close before the November deadline, the companies said on Monday, amid investor concerns about securing China’s approval for the deal.

China’s State Administration of Market Regulation (SAMR) has not signed off on the deal and is likely to delay its decision, the Financial Times reported earlier this month, after U.S. President Joe Biden’s administration introduced tougher chip controls.