Broadcom has closed its $69 billion acquisition of cloud-computing firm VMware after receiving regulatory approval from China, ending a months-long saga, according to Reuters.
The deal, one of the biggest globally was announced in May 2022. However, the transaction faced tough regulatory scrutiny worldwide, and the companies delayed the closing date three times.
China’s regulatory approval came yesterday after tensions with the United States around tougher chip export control measures had stoked fears among some investors on the company’s ability to close the deal before the Nov. 26 deadline.
The European Commission had approved the acquisition after Broadcom offered remedies to help rival Marvell Technology while the U.K.’s Competition and Markets Authority (CMA) gave its green light following an in-depth investigation.
