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Broadcom (NASDAQ:AVGO) and VMware (NYSE:VMW) set Oct. 23 as the deadline for VMware holders to elect the form of merger consideration they will take. VMW rose 1.1% in premarket trading.
The companies reiterated that they expect to close the transaction by Oct. 30, subject to the receipt of regulatory approvals and other customary closing conditions, according to a statement on Wednesday.
The release comes after the deal spread in the $61 billion purchase of VMware widened significantly on Tuesday amid a report that China’s antitrust approval for the megadeal may be delayed, although another item claimed that China’s State Administration for Marker Regulation would approve the deal by the end of the month.
The weakness in VMware (VMW) on Tuesday also came amid a report from Bloomberg and others that the U.S. brought in new updates that would curb the sale of chips that Nvidia (NVDA) made for the Chinese market, part of Washington’s export restrictions aimed at hindering China’s access to advanced semiconductor technology.
Traders are focused on China as it is the last major approval needed for the transaction to close after it received clearance in the UK last month and the HSR waiting period in the U.S. expired.
