The U.K. Competition and Markets Authority followed through on a threat made last week to refer the agreed acquisition by Broadcom AVGOof VMware VMW for further review. The regulator said Broadcom said it would not be offering any undertakings to quell its concerns, so it’s therefore decided to refer this merger for a phase 2 investigation. VMWare closed Tuesday at $122.61, well below the $145 in cash or share consideration valued at $157.42 that Broadcom is offering.
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