Broadcom Reportedly In Talks To Buy VMware For About $60 Bln

(RTTNews) - Chip maker Broadcom Inc. (AVGO) is in talks to buy enterprise cloud-computing company VMware Inc., (VMW) for about $60 billion, the Wall Street Journal reported citing people familiar with the matter.

According to the Journal, the companies aim to announce a cash-and-stock deal worth about $140 per share on Thursday, assuming the talks don't fall apart. The price wasn't yet set and could still move around.

As of on Monday market close, VMware has a market value of about $50 billion, while Broadcom is around $215 billion.

VMW closed Monday regular trading at $119.43 up $23.72 or 24.78%.