Why Broadcom Stock Inched Higher Today
Shares of semiconductor company Broadcom (NASDAQ: AVGO) gained 2.4% through 12:15 p.m. ET after the company provided an update on the status of its bid to acquire VMware (NYSE: VMW) Monday morning.
Specifically, Broadcom announced that it has received final approval from the United Kingdom's Competition and Markets Authority. This was the seventh country-level antimonopoly clearance Broadcom has secured. It has also received clearance from the European Union and foreign investment control clearance "in all necessary jurisdictions," said Broadcom.
According to Broadcom, all systems are go for the company to complete its acquisition of VMware as planned on Oct. 30. But not so fast.
Source Fool.com
Broadcom Ltd. Stock
€1,571.2
-2.970%
With 79 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 1750 € there is a slightly positive potential of 11.38% for Broadcom Ltd. compared to the current price of 1571.2 €.
