Cloud News
Broadcom’s Potential VMware Acquisition: 5 Things About Dell, Stock Prices And Hock Tan To Know
Mark Haranas
From recent acquisition comments made by Broadcom CEO Hock Tan to VMware’s chairman and Dell Technologies CEO Michael Dell, here are five important things to know about Broadcom’s potential acquisition of VMware.
VMware Shares Climbs 17 Percent, Broadcom Stock Down 5 Percent
Broadcom and VMware investors have taken the news of Broadcom’s potential acquisition of VMware in different ways.
VMware’s stock price was up nearly 20 percent to around $115 per share as of 11:00 EDT Monday morning trading, compared to its Friday close of $95.61 per share.
VMware’s market cap increased from $40 billion to $48.3 billion since news of the potential acquisition broke on Monday.
Broadcom’s stock was down nearly 4 percent, however, hovering around $523 per share Monday morning, compared to its $543.34 per share close on Friday.
Broadcom’s market cap fell from around $223 billion on Friday to $213.3 billion as of Monday morning.
The Takeaway : VMware’s stock is soaring with the news, while Broadcom’s stock is trading at a 2022 low of around $515 per share.
