VMware/Broadcom deal spread narrows amid reports on China review (update)
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Update 11:40am: Adds additional reporting on China review. 
The deal spread in Broadcom's (NASDAQ:AVGO) planned $61 billion purchase of VMware (NYSE:VMW) narrowed amid reports about China's antitrust review of the deal. The spread narrowed to $15 on Wednesday from $17.23 on Tuesday.
The parties are expected to start remedy discussions with China's State Administration for Market Regulation, according to traders, who cited a report that was circulating on Wednesday.
A separate report on Wednesday indicated that the companies are in talks with China's SAMR about a proposed remedy that has received positive feedback from industry and government officials, according to traders, who cited a Capitol Forum item. 
Traders are focused on China as it is the last major approval needed for the transaction to close after it received clearance in the UK last month and the Hart-Scott-Rodino waiting period in the U.S. expired. Broadcom (AVGO) has said it plans to close the deal on Oct. 30.
Broadcom (AVGO) is scheduled to present at the Goldman Sachs Communacopia & Technology Conference on Thursday.

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