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5/23, 11:14 AM (Source: TeleTrader)
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VMware shares soar by 18% after report on acquisition

Shares of United States software company VMware Inc. soared over 18% on Monday's premarket session after reports said Broadcom was in talks to buy the software company.

According to a report by The Wall Street Journal, chipmaker Broadcom is reportedly negotiating to buy VMware, worth about $40 billion at Friday's market close. The price of the offer was not disclosed, and it is still possible that a settlement may not be finalized.

VMware shares jumped 18.06% at 5:13 am ET in premarket trading to $113.

Baha Breaking News (BBN) / JG