Vmware Inc (NYSE:VMW) shares are trading higher Monday following several reports Broadcom Inc (NASDAQ:AVGO) is in talks to acquire the company.
According to multiple reports, citing people familiar with the matter, Broadcom has expressed interest in acquiring Vmware for up to $50 billion. However, deal terms have not been confirmed as negotiations between Broadcom and Vmware are reportedly ongoing and a deal is not expected to be imminent.
Vmware’s market cap is currently around $40 billion, according to data from Benzinga Pro.
Vmware became a stand-alone entity after a spin-off from Dell Technologies Inc (NYSE:DELL) last year. The company is an industry leader in virtualizing IT infrastructure. Vmware stock traded down near five-year lows last week.
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VMW 52-Week Range: $91.53 – $167.83
The stock was up 22.1% at $116.58 at press time.
Photo: ananitit from Pixabay.
