Broadcom said to discuss paying about $140/share for VMware
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Broadcom (NASDAQ:AVGO) is said to be discussing paying around $140/share for VMWare (NYSE:VMW). VMWare shares soared 25%, while Broadcom fell 3.1%.

An acquisition would value VMWare (VMW) at about $60 billion, according to a WSJ report, which cited people familiar. To help finance the deal Broadcom plans to use a "handful" of banks for a $40 billion debt package.

The parties are targeting announcing a deal on Thursday, when VMware (VMW) is scheduled to report Q1 results, according to the report. At $140/share, the deal would present a 46% premium to VMWare's closing price on Friday.
The latest update comes after Bloomberg reported on Sunday night that Broadcom (AVGO) was said in talks to acquire cloud-computing company VMware (VMW).
Bloomberg also just reported that a deal is expected to include a majority of the consideration in stock, though there will also be a large cash element. Financing for the deal is said to be in place and a transaction may be announced as soon as this week.
Earlier Monday BofA said that a deal for VMW could create "overhang" for Broadcom (AVGO) shares.