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Press Release

Broadcom and VMware provide update on pending transaction

Thu 2 Nov 2023

Broadcom and VMware have announced their expectation that Broadcom’s acquisition of VMware will close soon.

The parties have received legal merger clearance in Australia, Brazil, Canada, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment control clearance in all necessary jurisdictions.

There is no legal impediment to closing under US merger regulations.

Each VMware stockholder will be entitled to receive, for each share of VMware common stock held immediately prior to the closing of the transaction, $142.50 in cash, without interest, or 0.2520 of a share of Broadcom common stock.

The merger consideration is subject to proration so that 50% of the aggregate shares of VMware common stock outstanding immediately prior to the closing of the Transaction will be converted into the cash consideration and the remaining 50% of the aggregate shares of VMware common stock will be converted into the stock consideration.

Each VMware stockholder will receive cash in lieu of any fractional shares of Broadcom common stock that the stockholder otherwise would be entitled to receive.


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