VMware shares dip after $69B merger with Broadcom delayed

Investing.com -- Shares in VMware (NYSE: VMW) slipped on Monday after the cloud software group and U.S. chipmaker Broadcom (NASDAQ: AVGO) missed an expected deadline to finalize a planned merger.

In a joint statement, the companies said that the tie-up, which was projected to be completed on Monday, will "close soon, but in any event prior to" the expiration of their merger agreement on Nov. 26.

Broadcom shares were slightly higher in early trading.

The California-based firms both said that the proposed $69 billion merger has received legal clearance from several territories, including the European Union, the U.K, South Korea and Japan. They noted that there is "no legal impediment" to Broadcom closing its acquisition under U.S. regulations.

China was not mentioned on this list. The Financial Times reported earlier this month that regulators in Beijing were considering blocking the deal in response to a move by U.S. authorities to crack down on Chinese access to high-performance chipmakers. Broadcom and VMware are still awaiting approval from China, the FT said.

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