Broadcom's purchase of VMware expected to get China approval soon - report (update)
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Update 10:50am: Updates deal spread with current trading.
Broadcom's (NASDAQ:AVGO) planned more than $60 billion purchase of VMware is expected to be granted conditional Chinese antitrust approval soon. The deal spread narrowed to $7.03 from $9.96 on Wednesday.
China's State Administration for Market Regulation is expected to shortly approve the acquisition of VMware with behavioral remedies, according to a Dealreporter item on Thursday, which cited three sources familiar with the situation.
The sources declined to provide specific timelines to Dealreporter. 
The latest update comes after a report late last month that SAMR is likely to approve the deal without major changes. Approval may still be weeks away, and a market test is ongoing. It's possible the deal is approved in October or in November.
Dealreporter last month also said SAMR paused its review of the deal as the regulator has advanced remedy talks with the parties. Broadcom also confirmed to the publication that the HSR waiting periods have expired and there is no legal impediment to closing under U.S. merger regulations. Broadcom (AVGO) reiterated that the deal will close in its fiscal year 2023.
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 HSR waiting period in the U.S. expired.

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