Broadcom, VMware slip as UK regulator says it will investigate $61B proposed merger
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Broadcom (NASDAQ:AVGO) and VMware (NYSE:VMW) slipped in premarket trading on Wednesday after the U.K.'s Competition and Markets Authority said it would investigate Broadcom's (AVGO) $61B proposed acquisition of VMware (VMW).
Wednesday's formal announcement marks the beginning of the formal inquiry and the end of the initial announcement, made in November, when the CMA said it would invite comment to see if the proposed deal would negatively impact competition in Britain.

The CMA has until March 22 to make a decision on whether the deal will impact competition.
In May, Broadcom (AVGO) announced it was buying VMware (VMW) for $61B in cash and stock, becoming one of the largest M&A deals of the year.
Last month, the European Union said it would open up an "in-depth" investigation into Broadcom's (AVGO) merger of software company VMware.