Vmware Inc VMW shares are trading higher Monday following several reports Broadcom Inc 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 DELL last year. The company is an industry leader in virtualizing IT infrastructure. Vmware stock traded down near five-year lows last week.
VMW 52-Week Range: $91.53 - $167.83
The stock was up 22.1% at $116.58 at press time.
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