NEW YORK, June 01, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, has opened an investigation to determine whether the officers or directors of VMware, Inc. (:VMW ) breached their fiduciary duty in connection with the acquisition of the Company by Broadcom Inc. (AVGO).
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On May 26, 2022, VMware announced it had entered into an agreement to be acquired by Broadcom valued at approximately $61 billion. Under the terms of the merger agreement, VMware shareholders will have the option of receiving either $142.50 in cash or 0.2520 Broadcom common stock for each VMware common share. The deal is expected to close in Broadcom’s fiscal 2023.
Bragar Eagel & Squire is concerned that VMware’s board of directors oversaw an unfair process and ultimately approved an inadequate merger agreement. Accordingly, the…