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5/23, 4:14 PM (Source: TeleTrader)
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Broadcom's acquisition of VMware coming Thursday - report

Broadcom Inc. is expected to announce the acquisition of VMware Inc. as soon as on Thursday, according to a report published by CNBC on Monday.

However, the deal hasn't been confirmed yet since "some material terms" need to be finalized, the report added. If it succeeds, the agreement will mark one of the largest mergers in the United States technology sector.

Broadcom's stock plunged 4.5% in the early session, while on the other hand, VMware's shares soared more than 17%.

Baha Breaking News (BBN) / ND