A sign on the campus offices of chipmaker Broadcom is shown in Irvine, California. Mike Blake | Reuters Chipmaker Broadcom is nearing a $3.8 billion deal to sell its business that allows users to access desktops and applications from any device to private-equity firm KKR, people familiar with the matter said on Saturday. The potential … Read more
Hock Tan, CEO of Broadcom. Martin H. Simon | Bloomberg | Getty Images Broadcom shares jumped 9% Monday after Citigroup resumed its coverage of the stock with a buy rating and updated its price target to $1,100. Shares closed at $1,029.24, its highest price in a year. Citigroup said it resumed its coverage of the … Read more
Club holding Broadcom ‘s (AVGO) investment prospects look bright – with or without cloud software maker VMWare (VMW) under its corporate roof. For now, though, the companies remain apart after Broadcom’s planned $61 billion takeover of VMWare did not close Monday, as previously scheduled. The hold-up is Chinese antitrust regulators, who have yet to bless … Read more
VMware (VMW) on Thursday jumped roughly 4% on reports that Broadcom’s (AVGO) acquisition of the cloud and virtual machine company is likely to be approved by China shortly. China’s State Administration for Market Regulation is expected to be granted conditional antitrust approval soon, according to trade publication Dealreporter. If you like this story, sign up … Read more