I hope and pray this is delayed and this POS company has to keep paying us while China delays
11 replies (most recent on top)
Dam
People getting heated XD look we're all going to find out on Mon
End of day, F VMware....F BC...F Hock...F MD...& last but not least F Magoo
At this point, whether it's delayed or not. Whether I keep my job or not. I definitely don't wanna work here and want to get another job
In the meantime, just wanna do no work and maximize severance!
Such poor leadership. Half of the company is going thru such stress, while our execs don't hv any info but yes CMO - Laura is posting sh-t abt f1 on linkedin. Do they have any shame .do they hv any responsibility towards employees. Why speak abt epic2 and all when you can't display 1% of it. VMware is gone and bc is taking a group of zombies.who will want to leave as soon as possible
“ Everything being traded now is only worth $142.5 and the only reason it's above that is on speculation that the deal will not close. That speculation is currently worth about $3.75”
You have no idea what you’re talking about. The stock ranked in the last week due to the approval and deal risk of NOT going through. VMware was trading way less than 142 when the deal was announced. It’s not trading a premium because the deal won’t go through.
Du----s.
"I love VMware, still. It’s not VMware‘s fault that China delays this! Broadcom should have invested in a Government Relations team! They only have 1 person globally."
...except if you just close the deal then you don't need to worry about a state scuttling it. I find it highly improbable that VMW wasn't a blocker for getting this deal done. VMW incompetence is world class.
Look, nobody knows anything for sure. My $0.02 is that Hoc wouldn't have been so vehement in his insistence that the deal would go through if he didn't either 1) have insider knowledge that it will be approved or 2) have some plan for the deal to go through even if China doesn't give approval...
What I can say with some assurance is that everyone at VMW should be looking for other employment opportunities. If the deal closes, BC is going to lay off more people next year--people who got "permanent" offers but who will then receive BC's cr-ppy severance. Even if you're not someone they decide to immediately let go, looking at how this M&A has been handled, do you really want to work for BC? And for those excusing this based on BC having subsidiaries in multiple jurisdictions: do you really want to work for a company that can't walk and chew gum at the same time?
If the deal is delayed, you're going to be in limbo for however long it takes to sort it out with the associated stress and drama. Realistically, if this gets delayed it could be anywhere between 30 days and six months. The deal might collapse during that time, or go through, but the uncertainty is going to take a toll.
If the deal falls through, VMW will be laying people off to cut costs so they can cover the $8 billion debt Michael Dell saddled the company with. Just because BC's plan to lay off 40% doesn't make a lot of sense doesn't mean that the company isn't going to have to make cuts. They're a business. They care about you just as much as they care about bugs in the break room. Less, because the bugs are a health concern that could lead to fines. Don't drink the EPIC2 kool aid.
There are relatively few scenarios where this works out well for anyone at VMW. Whether the deal goes through or not. I've been looking since the announcement, but holding out for something "better." Having watched this slow-motion train wreck, the bar for "better" is pretty low.
Will the short sellers and institutional investors push AVGO and VMW down further?
We're assuming that the bottom line for VMW is $142/share, but what if it isn't?
The deadline for tendering stock was on 10/20, and if you had a good broker, 10/23 (MAYBE, it was best effort only). Meaning that the absolute last day to buy stock and have it tenderable was on 10/19. As 0.252 shares of AVGO is obviously worth more than $142.5, everyone is electing 100% stock. This is prorated 50:50 prorated however. Meaning that HALF of all shares will be stock and half cash. Any stock that is not tendered, will be given the option that is not fully subscribed. About 10% of shares are not tendered, and that's what's trading now, mostly purchased by people who didn't notice the date, algo-traded shares which were not tendered properly, and people hoping and praying that the election period is extended. These shares will receive cash only, no stock, meaning those who tendered will receive more stock and less cash.
Everything being traded now is only worth $142.5 and the only reason it's above that is on speculation that the deal will not close. That speculation is currently worth about $3.75 (the deal is closing, the stock will suspend on monday)
I love VMware, still. It’s not VMware‘s fault that China delays this! Broadcom should have invested in a Government Relations team! They only have 1 person globally.
Stock was always going to adjust back down to the cash offer price.
I hope it goes through so we can get on with whatever is next for each of us.
The leadership are showing their worth but we have all seen that since 2015. I'd call it more of a presence than leadership myself.