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Broadcom CEO Hock Tan’s Guide To Buying VMware In 30 Days
CRN takes you behind the scenes for a month of late-night meetings, phone calls, and the two conversations Michael Dell had at Davos that became footnotes to one the largest software deals of all time once it closes.
The ink was hardly dry on the deal when JP Morgan Chase and Goldman Sachs started calling other potential suitors for VMware on May 26, according Broadcom’s filings.
“J.P. Morgan and Goldman Sachs contacted 10 potential strategic acquirors (including Party A and Party B).,” the filing stated. “Of such contacted parties, two potential strategic acquirors executed acceptable confidentiality agreements. During the go-shop period, VMware provided confidential information in response to due diligence inquiries made by these two potential strategic acquirors.”
As the 40-day window ticked down however, and the interested company’s dug into VMware’s financials, none of those prospects returned with an offer. The go-shop provision closed on July 5, with Broadcom emerging as the only deal on the table.