BC is still optimistic about Monday. If not Monday, then a couple of days later.
Someone familiar with the matter.
13 replies (most recent on top)
@smc+1phhmCv4 in the bigger scheme of things HT, BC, VMW are nothing to China! There is no amount of bribes HT can make to influence China right now!
China won't approve until 30th and this will either drag until 26tu or any further extension of outside date until BC give up and pay VMW 1.5B and call it off.
I doubt someone that’s actually familiar with the matter would post here. Also that one poster is an f*ing racist bigot. Go troll somewhere else.
You can’t do anything at this point and stressing will not do you any good. Work on your resume, make sure you keep doing your job (which doesn’t involve refreshing your email every 5 seconds) and start looking for work elsewhere.
Hock's team may be able to get the Chinese to make an exception for AVGO, but anyone who transfers over to their company from VMW will never view their job the same way.
This is as ugly a transition as I've ever been through. And, I have been through several.
“ This is ONLY true if you continue to do business in china”
More than 10% of BCs business is in China. I don’t think they’d just kiss that off. My guess is that Hoc knows something (or has bribed someone) and the deal will go through. Delayed or not is a different question
The analysts that do this for a living have been saying for some time that this deal can’t proceed without China’s approval. This isn’t rumor, it’s factually correct. They get paid to write about M&A.
This is ONLY true if you continue to do business in china. Let us count the reasons why doing business in China is no longer profitable or reasonable at this juncture.
Deal is not dead and you people that are crying over losing a job your sitting on your a-s most of the time for Broadcom is firing your a-s first 🤣. Broadcom sent out offer letters letting people know deal is not dead yet and their confident on closing on the final date. AVGO knows what they’re doing. They have always said October close. They follow thru on Monday as VMware has a delisting notice as well. China won’t do jack sh-t. Hock has a good relation with them. US was bi--hing when Hock was trying to acquire Qualcomm not China. China wanted Hock to take Qualcomm. Why would they stop him from having VMWare this time? In fact they are most likely approving the deal to improve relations or Broadcom can close without them. The ceo doesn’t sit on the earnings call and confidently tell you this,”
On Broadcom's Q3 earnings call, Tan said the deal has won "foreign investment control clearance in all necessary jurisdictions."
But that statement wasn't enough for Piper Sandler analyst Harsh Kumar, who asked if China would be a problem.
"Let me say this," Tan replied. "I made those specific notes or remarks on regulatory approval. I ask that you think it through, read it through and let's stop right there."
He already told y’all he doesn’t give two fu--s about China. If they stop the deal he will extend, close without China approval and pay fines, or no move forward on deal anymore.
The analysts that do this for a living have been saying for some time that this deal can’t proceed without China’s approval. This isn’t rumor, it’s factually correct. They get paid to write about M&A.
Currently China isn’t approving the deal so it’s on pause. There’s nothing more to it than that. The only question is how long it will take for China to approve it or whether AVGO can find a way round the problem. I would think that the chance of either of these options happening before Monday is low. Not impossible, but low.
Reminds me of the Monty Python dead parrot sketch. Remember that? Hilarious.
But, denial won't change anything. This deal has been dead on arrival for weeks, but nobody on the AVGO or VMW leadership wanted to move it to the morgue.
It's still a corpse in the eyes of the Wall Street investors. The funeral is next week.
You might chose to live in the land of cognitive dissonance but the rest of us live in a thing called reality.
You say the rest of us. I am surprised how many people here think that a failed approval from China means layoffs will suddenly cancelled and VMware will go back to the good old days of overpaid 4hr days.
What incentive China has to ki-l the deal? It's not a semi conductor deal which can pose some competition to them in the future. It's a SW company which they don't even use.
China needs to re build some of the global investors confidence back and approving this deal will be a start
Hock is that you?
"BC is still optimistic about Monday. If not Monday, then a couple of days later.
Someone familiar with the matter."
What is your source?
Nothing in the news.
No announcement from BC or VMW.
Who are you trying to convince here exactly? You might chose to live in the land of cognitive dissonance but the rest of us live in a thing called reality. Even Stevie wonder could see its dead.