iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more
Broadcom announced a cash-and-stock deal valuing VMware at approximately $61 billion in May 2022. Broadcom also said it would assume $8 billion in VMware net debt, bringing the commonly cited headline transaction value to roughly $69 billion. The acquisition closed on November 22, 2023.
Why the deal is described as both $61 billion and $69 billion
The two figures use different bases. Broadcom’s May 2022 announcement valued the cash-and-stock acquisition at approximately $61 billion, calculated using Broadcom’s closing share price on May 25, 2022. It separately said it would assume $8 billion of VMware net debt. Adding that debt to the announced value explains the roughly $69 billion headline transaction value. Broadcom’s announcement presents the figures as separate components.
So, if asked how much Broadcom paid, the clearest answer is approximately $61 billion for the announced cash-and-stock acquisition, or roughly $69 billion when the assumed net debt is included. The $69 billion figure is not a different offer; it reflects the broader transaction value.
What VMware shareholders were offered
Under the merger terms reported in Broadcom’s Form 8-K filed with the SEC, eligible VMware shareholders could elect to receive either $142.50 in cash or 0.25200 Broadcom common share for each VMware share. The election was subject to proration under the merger agreement, so shareholders could not necessarily receive their chosen form of consideration for every share.
These per-share terms describe how consideration was allocated; they are not another aggregate estimate of the deal’s value.
When the acquisition closed
Broadcom completed the acquisition on November 22, 2023. Its closing announcement confirmed completion, and the SEC filing documented the merger consideration and closing. VMware common stock was to cease trading on the New York Stock Exchange.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why a later report gives a different number
Broadcom’s fiscal 2024 annual report, filed in 2025, reported $79.648 billion in total purchase consideration, net of cash acquired. That is an acquisition-accounting measure, not a revised announcement price. It uses a different basis from both the approximately $61 billion announced value and the roughly $69 billion headline value including assumed net debt. The figure appears in Broadcom’s fiscal 2024 Form 10-K.
Do these 3 things before closing this tab:
1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsQuick Recap
Best Value
- Used Book in Good Condition
Deal figures at a glance
| Figure | What it measures |
|---|---|
| Approximately $61 billion | Announced cash-and-stock acquisition value, based on Broadcom’s May 25, 2022 closing share price (Broadcom, 2022). |
| $8 billion | VMware net debt Broadcom said it would assume (Broadcom, 2022). |
| Roughly $69 billion | Approximately $61 billion announced value plus $8 billion of assumed net debt. |
| $142.50 cash or 0.25200 Broadcom share per VMware share | Original shareholder election terms, subject to proration (SEC filing, 2023). |
| $79.648 billion | Broadcom fiscal 2024 total purchase consideration, net of cash acquired; an accounting measure on a different basis. |
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
