Summary by Moomoo AI
Broadcom Inc., a Delaware-incorporated company listed on the NASDAQ Global Select Market under the trading symbol AVGO, has filed a Current Report on Form 8-K with the United States Securities and Exchange Commission on July 8, 2024. The report provides pro forma financial information concerning Broadcom's completed acquisition of VMware, Inc., which was finalized on November 22, 2023. The pro forma financials cover the two fiscal quarters ended May 5, 2024, and the fiscal year ended October 29, 2023. The acquisition was accounted for as a business combination, with Broadcom identified as the accounting acquirer. The purchase price allocation was based on preliminary fair values at the acquisition date. To fund the cash consideration of the acquisition, Broadcom utilized cash on hand and borrowings under a new credit agreement, which included an aggregate of $30.4 billion in term facilities. The report includes unaudited pro forma condensed combined financial information and notes that detail the accounting treatments and adjustments related to the acquisition and the financing arrangements.
