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The deal spread in Broadcom’s (NASDAQ:AVGO) planned $61 billion purchase of VMware (NYSE:VMW) narrowed amid a report about China’s antitrust review of the deal. The spread narrowed to $15.51 from $17.23 on Tuesday.
The parties are expected to start remedy discussions with China’s State Administration for Market Regulation, according to traders, who cited a report that was circulating on Wednesday. Further details about the report couldn’t immediately be learned.
Traders are focused on China as it is the last major approval needed for the transaction to close after it received clearance in the UK last month and the Hart-Scott-Rodino waiting period in the U.S. expired. Broadcom (AVGO) has said it plans to close the deal on Oct. 30.
Broadcom (AVGO) is scheduled to present at the Goldman Sachs Communacopia & Technology Conference on Thursday.
