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Broadcom-VMware Deal Gets China Approval. Why the Stocks Are Dropping.

Broadcom plans to close on its merger with VMware on Wednesday after getting conditional approval for the deal Tuesday from China’s antitrust regulator. China’s State Administration for Market Regulation, or SAMR, issued a statement granting the conditional approval Tuesday. In a press release Tuesday, the two companies said they “have received all required regulatory approvals and intend to close Broadcom’s acquisition of VMware on November 22, 2023.”
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