I’ve heard Hock and other VMware executives have been saying they expect the deal to close before Broadcoms fiscal year end in November, despite the news about the EU. Has anyone else heard the same?
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To add on what “the guy with business info” posted. The EU has to respond to Broadcom within 90 days from the filing with their concerns, they will move quickly to resolve whatever those issues are. This will not take 1 year.
Also, the lawsuit filed against VMWare Executives and Board about the acquisitions, before all you guys get worked up and think that will close the deal. EVERY deal has a law firm sue them on behalf of the shareholders, happened with CA, Symantec and every other large acquisition that takes place. Please GOOGLE that if you think I am not reporting the facts.
All these things are very normal in an acquisition this size (EU Review, lawsuits, etc).
"It will take a year, maybe more due to EU regulators chewing it over for a good bit"
not true. Again. There are probably 100 or lawyers with a finger in this. Bank/Finance lawyers, the corporate legal staff, the external legal staff, VMW's legal staff, etc.
And execs on both sides stand to make millions.
You think they will let chaos run loose for a year. You think last qtr was bad, imagine 4 qtrs of that or worse.
No. It isnt like the EU or anyone else is actually sending "investigators" to offices and cr-p. They are asking for paperwork, and assurances, etc. This is not some made for TV movie. And it isnt like Broadcom hasn't dealt with regulators before (and had purchased nixed before). They have this figured out. Please stop deluding yourself.
Don't get your hopes up for this to run until next July. You are just full of wishful thinking.
If you've been losing attention, it'll be impossible to close this year.
It will take a year, maybe more due to EU regulators chewing it over for a good bit
This will go more than likely beginning of calendar 2023.
Nov is still possible, but EVERYTHING would have to line up. All the financing, the regulatory hurdles, the finishing of all due diligence and investigation of vmw's books, employees, products, support, operations, etc, etc.
Earliest Nov. Best guess Feb. Latest May. But no one knows because we are so early in the process. The plan for these things has so many tasks, check boxes, documents, etc that need to be accomplished and in specific order that it is very hard to rush.
Broadcom is incentivized to do this quickly, because each qtr of "unknowns" drive lower productivity, lower sales, more debt (both cash and tech) etc. Its one thing to have a cr---y qtr or 2 before the paperwork is done. its another to have a year of cr-p.
Broadcom knows this. And it will be as soon as possible.
So it sounds like the deal will most likely close between November 2022 and February 2023, which would fall into Broadcoms FY2023. It might take longer yes, but the folks saying no earlier than May 2023, have no idea or information to base that on. Hock has every incentive to close thing ASAP, so he can begin his purge, and will throw hundreds of lawyers at it, if needed.
Bottom line, don’t hold onto false hopes like people did with Intel buying us. Expect this thing to close sooner than later folks.
Unfortunately our wonderful executive team (sarcasm), will NOT keep us well informed, so we can make life decisions. Be smart folks, don’t trust Raghu and Sumit, they are being financially incentivized to try and hold things together until the purge. Take care of yourself and your family.
https://investors.broadcom.com/static-files/3725d203-355a-404e-b4bd-f2ebce786854
Target date is at most Feb 2013 but depends on regulatory approvals.
@2eze+1hIn15lM The way you reply is obvious, your responses are formatted the same Broadcon. Why do you get so angry every time someone suggests cuts won’t be as deep as your doom posting assumes? It’s humorous at this point.
Great news for us all around from @2pnp+1hIn15lM
No lays offs ever!
The acquisition will make our lives better if it goes through and if it doesn’t all those potential buyers will come back and offer double for the company.
Diversity will get a larger investment so we can be super woke.
VMWare will go to full work from home and close all offices and give large payments to all employees.
@2pnp+1hIn15lM Now you are just living in dream land. Those who said there will be layoffs before close are mo--ns, that was never gonna happen it would be illegal let alone stupid. People also didnt say 70 percent before christmas, they said 70 over two years. Before christmas it will likely be 30 percent consisting of HR, IT, Sales, and redundancies. Clearly you havent paying attention to what people are saying, also you clearly having been paying attention to the numbers. What’s so hard to understand about the numbers not adding up? It’s simple, the only way they can get to their proposed financial projections are through MASSIVE reductions in expenses, VMware’s #1 expense is its employees
Continue hoping things dont go bad, that’s fine, but for your own and your family’s sake, take some precautions, get your resume ready and be prepared to interview.
“What happened to all the people saying there would be layoff before close??? Crickets.”
LOL and it’ll be crickets again when “70% of the company” isn’t laid off before Christmas and again in May. Cricket farm.
No. VMware is huge compared to EU and Symantec. And the EU Phase 2 probe is bound to delay the deal to at minimum May 2023. People come to this site to mostly rant so there is more bias towards ppl saying November 2022.
The press release says:
Broadcom is now clear to proceed with the transaction, and pending regulatory and shareholder approval – Europe, for one, is sticking a probe into the deal – is expected to close by the end of the chipmaker’s 2023 fiscal year, which ends in November.
What happened to all the people saying there would be layoff before close??? Crickets.
no, these are just ridiculous wild speculations. Even Broadcom has stated it's "sometime" in their Fiscal year 2023.... their Fiscal year BEGINS in November 2022, yeah this isn't happens on Day 1 of their Fiscal year, c'mon now - this is as ridiculous as it gets
May 2023 is the date, then they will lay off some redundant people sometime around then, perhaps HR, Admin, Sales/Marketing, Engineers get laid off much later. This is from legit channels i've heard.
A lot of the wishful thinkers out there, who thought Intel would bid on us before the end of the Go Shop, are now holding onto hope that the EU will drag this out until at least early next year
Not that this is any consolation prize, but both CA and Symantec had to lay off a bunch of people before the holidays as well.
I think 70% of the ultimate goal, but not the immediate number. Probably 50% would go on Day 1 - and then another 20% would be on transition for any period between 1 month to 1 year.
The holidays are the worst time to look for a job. Thanks Michael Dell
How horrible would that be? 70% of the company laid off before Christmas
Yes, it was they have said publicly in most press releases. Something like “we anticipate”. Since the second level review requires 90 days, it is possible that the close can happen in November, even if the second level review has findings, they can most likely remedy them in time or be given time to provide a remedy.
Anyones guess though.