U.K. regulators gave the green light for Broadcom's (AVGO) $69 billion purchase of VMware (VMW) on Monday, se💙nding shares of both companies hi🐼gher in early trading.

The U.K.'s Competition and Markets Authority (CMA) on Monday cleared Broadcom's $69 billion 澳洲幸运5官方开奖结果体彩网:acquisition of Palo Alto, CA-based cloud computing company VMware, concluding a two-phase investigation that began in March. An independent panel of regulators ruled that the merger would not stifle competition in the supply of server hardware components in the U.K.

The deal, first announced in May of last year and initially valued at $61 billion, cleared one of its biggest regulatory hurdles this week. Regulators in the 澳洲幸运5官方开奖结果体彩网:European Union (EU), Australia, Canada, Brazil, Israel, South Africa, and Taiwan have already cleared the deal, while U.S. regulators could soon follow suit as an FTC-mandated pre-merger waiting period has expired.

A merger with VMware would enable Broadcom, one of the world's 澳𓂃洲幸运5官方开奖结果体彩网:biggest semiconductor compan🌳ies by revenue, to accelerate its adoption of cloud technologies, while giving the former the financial resources and capabilities to fund its 澳洲幸运5官方开奖结果体彩网:research and development (R&D) ambitions. Broadcom's roughly $350 billion 澳洲幸运5官方开奖结果体彩网:market cap is fiv🤪e times that of VMware's $70 billion capitali⛦zation.

Broadcom shares rose more than 2% in early trading Monday, while those of VMware leaped over 4%. Shares of the former are 🌠up close to 50% year-to-date, while those of the latter have gained ♑26% over the same period.