The Biden administration is tightening restrictions on the sale of advanced chips to China, sparking fears of retaliation.
VMware shares are trading lower on Tuesday amid concerns that intensifying trade tensions between the U.S. and China could spur Chinese regulators to block the pending acquisition of the infrastructure software company by Broadcom.In May 2022, Broadcom announced a deal to buy VMware for $61 billion in cash and stock, plus the assumption of $8 billion of net VMware debt.
As recently as Aug. 21, Broadcom said it expected to close the deal Oct. 30, pending some required regulatory approvals, apparently including China, which it expected to receive by the closing date.
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