VMW

By Ian Walker

The U.K. Competition and Markets Authority said Wednesday that it will now refer Broadcom Inc.'s planned $61 billion acquisition of VMware Inc for a further review after being notified that Broadcom won't be offering any undertakings to satisfy its concerns over the deal.

The regulator--which started its initial review into the deal in January--said the deal would lead to a substantial lessening of competition within the U.K. and invited the companies to offer undertakings to address its concerns. They were given a deadline of March 29 to offer undertakings.

It said Wednesday that the acquirer informed the CMA on March 22 that it wouldn't be offering any undertakings.

The deal will now be referred for a further in-depth review.

On Dec. 20 the European Union's antitrust watchdog said it would open an investigation into the deal as it believed it would allow Broadcom to restrict competition in the market for certain hardware components.

The U.S. Federal Trade Commission has also been seeking information about the deal from the companies, citing a previous regulatory filing.

Broadcom said in December that it looked forward to continuing to work with European regulators as part of their review process.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

March 29, 2023 06:27 ET (10:27 GMT)

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