Broadcom slips as European agency sends 'statement of objections' over VMware deal
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Broadcom (NASDAQ:AVGO) shares slipped fractionally on Wednesday as the European Commission sent the semiconductor company a "statement of objections" over its proposed deal to buy VMware (NYSE:VMW).
In the statement, the E.C. said it was concerned that Broadcom (AVGO) may "restrict competition in the global markets for the supply of FC HBAs and storage adapters by foreclosing competitors' hardware by delaying or degrading their access to VMware's server virtualization software."

VMware (VMW) shares also fell fractionally following the statement.
The E.C. now has until June 21, 2023 to make a final decision on the in-depth investigation it opened on December 20, 2022, back from a previous deadline of June 7.
In February, it was reported that Broadcom (AVGO) was likely to receive a warning from the E.C. on its planned $61B takeover of the virtualization software provider.