Vmware, Inc VMW stock is trading higher Wednesday after Broadcom Inc AVGO won conditional approval Wednesday from the European Commission to complete its acquisition of VMware.
With this decision, the Commission recognizes the importance of this combination in enabling enterprises to accelerate growth and momentum in the multi-cloud ecosystem, expanding customer choice, and creating more potential for increased innovation and competition.
Also Read: Broadcom CEO Prepares To Allay Concerns Of EU Regulators Over VMware Deal
Broadcom has also won legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan and foreign investment control clearance in all necessary jurisdictions for the $61 billion deal.
Broadcom provided the European Commission with a technology access remedy that preserves interoperability, a core principle that would not have changed due to this transaction.
On March 29, Britain’s Competition and Markets Authority referred to the anticipated takeover for an in-depth investigation for concerns over the substantial lessening of competition within the U.K. markets.
On Tuesday, Microsoft Corp MSFT won a court permit to move forward with its $69 billion deal to buy Activision Blizzard, Inc ATVI as the deal battled global regulatory opposition.
Price Action: VMW shares traded higher by 2.29% at $155 in the premarket on the last check Wednesday.
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