TELETRADER News
5/23/2022, 11:14 AM
(Source: TeleTrader)
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.