The European Union’s antitrust regulators have postponed the deadline for deciding on U.S. chipmaker Broadcom’s bid of $61 billion for cloud computing firm VMware. The new deadline is June 26, which is three days later than the original deadline.
According to a spokesperson from the European Commission, the deadline was extended with the agreement of the companies involved.
Broadcom’s CEO, Hock Tan, presented the benefits of the deal to the European Commission during a private hearing last week. Remedies are anticipated to be proposed by the company in the near future.
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Broadcom expects to close the deal by Oct. 30, 2023, the end of its fiscal year, the spokesperson said, without offering any other reason for the extension.
The delays could be due to clearances from anti-trust and competition watchdogs of the US, UK and the European Union, including the US Federal Trade Commission, media reports have speculated. VMware shareholders already voted to accept the deal in November 2022.