The proposed deal comes just weeks after billionaire and Tesla CEO Elon Musk offered to spend $44 billion on Twitter.
The massive buyouts are occurring at a time of heightened anxiety because of turmoil on the global supply chain, war in Europe and rising prices that have the potential to cool both business and consumer activity.
Broadcom wants to establish a stronger foothold in the cloud computing market and VMware’s technology allows large corporations to blend public cloud access with internal company networks. VMware has close relations with every major cloud company and provider, including Amazon, Google and Microsoft.
VMware is already among the moving parts of the tech sector this year, with Dell Technologies Inc. spinning off its 81% equity stake in company only about 6 months ago. Michael Dell is still VMware’s chairman and he owns 40.2% of the company’s outstanding shares. The transaction includes a “go-shop” provision, so VMware is allowed to actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals during a 40-day period.
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