Broadcom said when it announced plans to acquire VMware for $61 billion in cash and stock that it had $32 billion in committed debt financing.
News that the European Commission has approved chip maker Broadcom Inc.’s $61 billion acquisition of cloud software company VMware Inc. VMW has sparked speculation that Broadcom will issue a jumbo investment-grade bond to fund the deal.
Broadcom AVGO said in May of 2022 when it announced the cash-and-stock deal that it had commitments from a consortium of banks for $32 billion in new, fully committed debt financing. Broadcom says it now has clearance for the deal to go through in Australia, Brazil, Canada, South Africa, and Taiwan. The company said it still expects to close the deal in its current fiscal year.
The news is a blow to the FTC which was concerned that Microsoft, with its Xbox gaming console, could withhold hit Activision Blizzard videogame franchises such as “Call of Duty” and “Overwatch” from competing console platforms.
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