https://breakingthenews.net/Article/Broadcom-VMware-extend-merger-date-until-May-2024/59492255
12 replies (most recent on top)
The K8 filing says the outside side date is moved to May 26 2023, a provision included in the original announcement, that the outside date can be moved 3 months at a time max for 3 times. The have done the first extension, may end up using the 2nd if EU investing drags along till the June as EU is planning as of now.
Besides EU said by 7th June, if my memory serves right, didn’t say it can’t happen before. Assuming if all the other authorities approve before EU and may be EU approves before the said June 7th.. no need for another extension.
Regardless they executed an existing provision in contract to the max allowed at one time, they still have 2 more extensions available in the provision, should they need. Beyond that if they can’t close, I am guessing there could be further negotiations possibly. But that is only my guess, not saying a certain Mr, He-l would agree for any price reduction.
"It's going to happen by May 2023"
It's going to happen before the EU decides to allow it? I doubt that. It may happen one day after the EU decision. It may happen later that day. But I don't see how it can happen before the EU decision.
#FAKENEWS It's going to happen by May 2023. Be ready.
Reuters reprinted the article the next day and corrected the date to May 2023.
Hard to believe that the initial reporting of the news was so confusing to reporters. ElReg says May 26, 2024 is the new “outside date”, see below.
https://www.theregister.com/AMP/2023/02/20/vmware_broadcom_deal_deadline_extended/
Good question. I wonder if the difference also makes a difference in terms of SEC filing (no clue)
I think there is some confusion here, it's still slated for May 2023, NOT 2024 as far as I can see
Multiple sources are now reporting the new date.
https://www.yahoo.com/now/vmware-broadcom-extend-merger-date-222001847.html
Typo presumably.
Any idea , why the previously termed “acquisition” has now become a merger.
It's the only source that says so, and it's wrong.
Reference:
https://ir.vmware.com/websites/vmware/English/5100/us-sec-filing.html
https://ir-api.eqs.com/storage/ir/5e7064/sec-filings/893ad19e-a9f9-4298-8085-cad98dd86660/Current-report-filing.pdf
"On February 17, 2023, in accordance with Section 9.1(d) of the Merger Agreement, the Company and Broadcom each delivered to the other a mutual
notice to extend the Outside Date (as defined in the Merger Agreement) to a date that is twelve months following the date of the Merger Agreement, which is
May 26, 2023. "