VMware said not to get rival offer in go-shop period for Broadcom deal
Justin Sullivan/Getty Images News


VMware reportedly (NYSE:VMW) didn't receive a rival bid in its go-shop period for its planned $61 billion sale to Broadcom (NASDAQ:AVGO).
VMware, which had 40 days to solicit other interest, may disclose details on its efforts, though plans haven't been finalized, according to traders, who cited a Bloomberg report. VMware has until 11:59 p.m. Pacific time on Tuesday to solicit other bids.

Broadcom's (AVGO) acquisition included a 40-day go-shop period, where VMware (VMW) can solicit alternative proposals, with the provision likely added because the deal was completed in just a few weeks. The go-shop expiration is just one hurdle that the semiconductor deal has overcome, though the acquisition may see more lengthy regulatory reviews, especially from other industry players who see VMware as the "Switzerland" of the data center segment.
In late May, KeyBanc analyst Thomas Blakey noted that Broadcom's (AVGO) bid for VMware (VMW), which has a go-shop period until July 5, is likely to be best and final.