U.K. regulators gave the green light for Broadcom's (AVGO) $69 billion purchase of VMware (VMW) on Monday, sending shares of both♛ companies higher in e💎arly trading.

The U.K.'s Competition and Markets Authority (CMA) on Monday cleared Broadcom's $69 billion 澳洲幸运5开奖号码历史查询: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开奖号码历史查询: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 澳洲幸运5开奖𒊎号码历史查询:biggest semiconductor companies 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开奖号码历史查询:research and development (R&D) ambitions. Broadcom's roughly $350 billion 澳洲幸运5开奖号码历史查询:market cap is five times that of VMware's $70 billion capitaliza🧔tion.

Broadcom shares rose more than 2% in early trading Mondayಌ, 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.