By Will Feuer

 

Broadcom said its $61 billion takeover of cloud-computing company VMware has been cleared by regulators and will close on Wednesday.

The deal, first announced some 18 months ago, has been held up by regulatory scrutiny. Investors have fretted that the Chinese government would withhold its approval.

Broadcom said Tuesday it has received legal merger clearance in China and all other necessary jurisdictions.

Chinese regulators are a growing concern for investors betting on big deals. Earlier this year, Intel scrapped its more-than-$5 billion offer to buy Israeli chip maker Tower Semiconductor after Chinese regulators failed to approve the deal amid U.S.-China technology tensions.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

November 21, 2023 08:19 ET (13:19 GMT)

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