Source prnewswire
Broadcom and VMware Intend to Close Transaction on November 22, 2023
On November 22, 2023, Broadcom Inc. (NASDAQ: AVGO) and VMware, Inc. (NYSE: VMW) announced that they have received all necessary regulatory approvals and plan to close Broadcom's acquisition of VMware as scheduled. A legal merger clearance has been obtained by Broadcom in Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment clearance in all necessary jurisdictions as well. Under the U.S. merger regulations, there is no legal impediment to closing.Broadcom: an overviewThe Broadcom Corporation. (NASDAQ: AVGO), a Delaware corporation based in San Jose, CA, is a global technology leader that designs, develops, and supplies a broad range of semiconductors and infrastructure software solutions to a variety of markets worldwide.. With its category-leading portfolio of products, Broadcom serves a number of critical markets across a number of vertical markets, such as the data center, networking, enterprise software, broadband, wireless, storage, and industrial markets.. Our solutions include data center networking and storage, enterprise, mainframe and cybersecurity software focused on automation, monitoring, and security, smartphone components, telecommunications, and factory automation for our customers. Our solutions include data center networking and storage, enterprise, mainframe and cybersecurity software focused on automation, monitoring, and security, smartphone components, telecommunications, and factory automation for our customers.VMware: What you need to knowIt has become a global leader in providing multi-cloud services for all apps, enabling digital innovation with enterprise control through a leading provider of multi-cloud services. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future, as well as a trusted foundation to accelerate innovation. In addition to being headquartered in Palo Alto, California, VMware is dedicated to building a better future through the company's 2030 Agenda. For more information, please visit www.VMware.com/company. The following is a cautionary statement regarding forward-looking statements The purpose of this communication is to inform you about a proposed business combination between Broadcom and VMware.. This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. The Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Exchange Act of 1934. A copy of the Securities Act of 1933, as amended, can be found here. A number of forward-looking statements have been made in this press release including, but not limited to, statements that pertain to the anticipated closing date of the proposed transaction.. There are some forward-looking statements that can be identified by the words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words or phrases.. Broadcom and VMware have made forward-looking statements in this press release based on their current expectations and beliefs, as well as current market conditions and trends. Broadcom and VMware have made forward-looking statements in this press release based on their current expectations and beliefs, as well as current market conditions and trends.These forward-looking statements involve risks and uncertainties that are outside Broadcom's and VMware's control and may cause actual results to differ materially from those contained in forward-looking statements, including but not limited to: business disruption following the announcement and closing of the proposed transaction; difficulties in retaining and hiring key personnel and employees due to the proposed transaction and business combination; the diversion of management time on transaction-related issues; the satisfaction of the conditions precedent to completion of the proposed transaction; the disruption of current plans and operations; the outcome of legal proceedings related to the Transaction; the ability to complete the proposed transaction on a timely basis or at all; the ability to successfully integrate VMware's operations; cyber-attacks, information security and data privacy; global political and economic conditions, including cyclicality in the semiconductor industry and in Broadcom's other target markets, rising interest rates, the impact of inflation and challenges in manufacturing and the global supply chain; the impact of public health crises, such as pandemics (including COVID-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; and events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory natureThese forward-looking statements involve risks and uncertainties that are outside Broadcom's and VMware's control and may cause actual results to differ materially from those contained in forward-looking statements, including but not limited to: business disruption following the announcement and closing of the proposed transaction; difficulties in retaining and hiring key personnel and employees due to the proposed transaction and business combination; the diversion of management time on transaction-related issues; the satisfaction of the conditions precedent to completion of the proposed transaction; the disruption of current plans and operations; the outcome of legal proceedings related to the Transaction; the ability to complete the proposed transaction on a timely basis or at all; the ability to successfully integrate VMware's operations; cyber-attacks, information security and data privacy; global political and economic conditions, including cyclicality in the semiconductor industry and in Broadcom's other target markets, rising interest rates, the impact of inflation and challenges in manufacturing and the global supply chain; the impact of public health crises, such as pandemics (including COVID-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; and events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory natureIt should be noted that these risks, as well as other risks related to the proposed transaction, are included in the registration statement on Form S-4 and proxy statement/prospectus that have been filed with the Securities and Exchange Commission ("SEC") in connection with the proposed transaction.. In spite of the fact that the factors listed here, as well as the factors listed in the registration statement on Form S-4, should be regarded as representative, such a list should not be considered to be an exhaustive statement of all potential risks and uncertainties.. There are other factors that could cause actual results to differ materially from those described in the forward-looking statements. Please refer to Broadcom's and VMware's respective periodic reports and other filings with the Securities and Exchange Commission, as well as the risk factors identified in Broadcom's and VMware's most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K.. The forward-looking statements contained in this communication are made as of the date on which they were made. There is no obligation on the part of Broadcom or VMware to update any forward-looking statements in the event of subsequent events or circumstances, except to the extent required by law. There is no obligation on the part of Broadcom or VMware to update any forward-looking statements in the event of subsequent events or circumstances, except to the extent required by law.This is not an offer or a solicitationThis communication is intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, nor shall it constitute a solicitation of a vote or approval vote, nor shall it constitute any solicitation of any vote or approval vote. It is prohibited to offer, solicit or sell securities in any jurisdiction where such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities in such jurisdiction.. There shall be no offering of securities other than through a prospectus which complies with the requirements of Section 10 of the Securities Act of 1933. The Securities Act of 1933, as amended, governs the securities industry The Securities Act of 1933, as amended, governs the securities industryHere is some additional information about the transaction and where you can find itWith respect to the proposed transaction, Broadcom has filed with the SEC a registration statement on Form S-4 that includes a proxy statement for VMware and that also constitutes a prospectus for Broadcom in connection with the proposed transaction. As part of the proposed transaction, Broadcom and VMware may also file other relevant documents with the SEC regarding the proposed transaction.. As a result of the registration statement becoming effective on October 3, 2022, the definitive proxy statement/prospectus has been mailed to all VMware shareholders as well.. There is no substitute for the proxy statement/prospectus or registration statement that Broadcom or VMware may file with the Securities and Exchange Commission or any other document that Broadcom or VMware may file. As investors and security holders, you are strongly advised to read any Registration Statement, Proxy Statements, Prospectus, as well as any other relevant documents that may be filed with the Securities and Exchange Commission, and any amendments or supplements to these documents, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY ARE AVAILABLE, AS THEY WILL CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.. A registration statement, proxy statement/prospectus, and other documents containing important information about Broadcom, VMware, and the proposed transaction may be obtained by investors and security holders free of charge through the SEC's website at http://www. The SEC maintains a website at http://www that contains information about these documents..Approximately 30 seconds.The government. On Broadcom's website at https://investors.broadcom.com you can obtain, free of charge, copies of the documents filed with the Securities and Exchange Commission by Broadcom.Broadcom, Inc..com. It is possible to obtain free copies of the documents filed by VMware with the Securities and Exchange Commission on VMware's website at ir.vmware.com.VM (Virtual Machine).Visit http://www.comVisit http://www.comContact information:In addition to Broadcom Inc., Ji Yoo, Broadcom Investor Relations, is available at 408-433-8000 or at [email protected] The AVG-Q (avgo-q)It is Joele Frank, Arielle Rothstein, Tim Ragones whom we wish to speak with. Joele Frank, Wilkinson Brimmer Katcher212 355 4449;The VMware Investor Relations Department at VMware, Inc. is at [email protected] I am Doreen Ruyak, VMware Global PR, at [email protected] Broadcom Inc. is the source of this information.Broadcom Inc. (NASDAQ: AVGO) is a Delaware corporation headquartered in San Jose, CA, that designs, develops, and manufactures telecommunications products and services for a wide range of markets worldwide....In a joint announcement today, Broadcom Inc. (NASDAQ: AVGO) and VMware Inc. (NYSE: VMW) announced that they expect Broadcom's acquisition of VMware (the "Transaction") to yield significant...Become a PRN subscriber and receive PRN's top stories and curated news delivered straight to your inbox every week!
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