VMware, Inc

VMW

Market cap $61.5B

CNBC's Jim Cramer delivers his daily Mad Dash.

Broadcom (NASDAQ: AVGO ) and VMware (NYSE: VMW ) stock are sliding on Tuesday as they come even closer to completing a merger deal. The big news that has AVGO and VMW stock on the move today is approval for the deal from Chinese regulators.

Broadcom Corporation (NASDAQ:AVGO) and VMWare have received a list of conditions from Chinese regulators pertaining to its $61 billion merger, marking the last hurdle for the megadeal. The Chinese state market regulator has outlined specific conditions that must be met for approval, with a focus on how the companies conduct business in the Chinese market.

The merger is expected to be completed on Wednesday.

Broadcom Inc. AVGO and VMware Inc. VMW expect to close their merger Wednesday after receiving all necessary regulatory approvals, the companies said Tuesday morning. The companies had been waiting on China to approve the $61 billion deal, which had been announced in May 2022.

SAN JOSE, Calif. & PALO ALTO, Calif.--(BUSINESS WIRE)--Broadcom Inc. (NASDAQ: AVGO) and VMware, Inc. (NYSE: VMW) today announced that they have received all required regulatory approvals and intend to close Broadcom's acquisition of VMware on November 22, 2023. Broadcom has received legal merger clearance in Australia, Brazil, Canada, China, the European Union, Israel, Japan, South Africa, South Korea, Taiwan, the United Kingdom, and foreign investment control clearance in all necessary jurisdi.

Receives Final Regulatory Approval for Transaction SAN JOSE, Calif. and PALO ALTO, Calif.

The situation for VMware shareholders is complex and almost unprecedented.

ANN ARBOR, Mich.--(BUSINESS WIRE)--Today, VergeIO, a top-tier VMware alternative, unveils its risk-free VMware conversion services. Powered by IOmigrate, VergeIO ensures a frictionless transition of VMware virtual machines to VergeOS with just a few clicks. In light of Broadcom's pending acquisition of VMware and growing user concerns about the state of the virtualization software and the company behind it – ranging from rising licensing costs, ransomware vulnerabilities, and diminishing qualit.

As Broadcom Inc. and VMware Inc. get closer to their new merger deadline of Nov. 26, some investors are nervous that the deal will not get done, with a $1.5 billion termination fee hanging over the chip maker.