supports idea that a senior leader from VMW may take reigns for software once we acquire you guys. i've thought there was a high probability of this happening. Krause prob left as he was seeing writing on wall
still doesn't change fact that headcount is going to be cut, but could mean cuts won't be just on your side.
Lol “or CDTO”, single worst leader I’ve ever encountered (clueless)
D-mb question, why are people saying it could take a year if the link says 90 days? The 90 days already started, so I guess this deal will close by November like originally stated assuming no real issues. Also would appear they could sell off some of the lines of businesses to get around any EU issues, so can someone explain where the “one year” came from? Thanks for posting this, I guess I could’ve looked it up myself but trusted what people were saying.
https://ec.europa.eu/competition-policy/system/files/2021-02/merger_control_procedures_en.pdf
Timing
From the opening of a Phase II investigation, the Commission has 90 working days to make a final decision on the compatibility of the planned transaction with the EU Merger Regulation. This can be extended by an additional 15 working days if the notifying parties offer commitments later in phase II (i.e. after the 55th working day of the case). Further extensions of up to 20 working days can be granted on request by, or with the agreement of, the notifying parties. If the notifying parties do not provide an important piece of information which the Commission has requested from them, the clock can be stopped until such missing information is supplied.
The Commission strives to align the timing of the investigations with other authorities worldwide whenever possible. It is cooperating actively with other agencies such as the US Federal Trade Commission and the US Department of Justice.
The final decision
Following the phase II investigation, the Commission may either:
Unconditionally clear the merger; or
Approve the merger subject to remedies; or
Prohibit the merger if no adequate remedies to the competition concerns have been proposed by the merging parties.
All final decisions - in both phase I and phase II - are published on the competition website, after references to the companies' confidential business information has been removed.
Let’s be real, this won’t take a year. I just did a quick search of all deals greater than 10B with EU implications. All had a phase 2 review (44 of them) and only 1 was not approved and that company was sold for parts.
yea the EU technically doesnt do a second level probe on all deals, but it was obvious AF they were gonna do it for this deal considering it was bcom, so no, it still isnt a surprise, and 100% Hock has a plan to deal with it
Uh no? The EU does not necessarily do second reviews on all large deals. And companies like Nvidia found out the hard way how difficult that is.
Guys - the EU does a second review on ALL large deals. This is nothing new and didn’t come as a surprise. When you interview for a CEO job, that process takes months not weeks. He was looking to get out before the deal was even announced most likely.
Its all speculation as with anything else on this board. I do find it interesting that this happened fairly shortly after the news that the EU was going forward with it anti-trust investigation. Interesting since this was HIS deal to begin with. So to suddenly up and leave when things start to get gummed up in negotiations? Fascinating indeed.
There is one person that makes ALL decisions at Broadcom (and I mean ALL) the departure of any executive will not impact the running of this company. No reason for this to delay the acquisition. Also no need for people to be nasty or sarcastic, a lot of people are going through the process for the first time so try not to be evil for no reason at all.
Wow the COO quit so all business is going to stop. Next press release will be that VMWare will be restored to its original glory and everyone is getting a raise and we will be hiring an additional 100 people to support our Diversity initiatives.
Why would an executive leaving delay the acquisition? I really wish people wouldn’t post such nonsense. It makes people (Broadcom) think we are a bunch of id--ts.
Could this delay the acquisition date??
, we can only hope it's anyone but the CEO. Or CDTO.
Or the CTO. Or the GMs of many BUs. Or the vast majority of over-promoted or hired-in PEs that do absoluytely nothing.
It won’t be a current member of the executive team. It will be a layer below them. This is a guarantee with nothing to back it up outside of how they handled every other acquisition. Keep in mind, if the executive stays and is offered a job, they don’t get all their stock accelerated and get no severance payment.
It won’t be a current member of the executive team. It will be a layer below them. This is a guarantee with nothing to back it up outside of how they handled every other acquisition. Keep in mind, if the executive stays and is offered a job, they don’t get all their stock accelerated and get no severance payment.
Considering how awful the current engineering leadership is at execution and picking priorities, we can only hope it's anyone but the CEO. Or CDTO.