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VMware Negotiating to Include Go-Shop Provision in Broadcom Deal

VMWare Inc. is negotiating a so-called go-shop provision into its potential takeover agreement with Broadcom Inc. that would allow it to solicit competing offers, according to people familiar with the matter. 

VMWare and Broadcom are close to announcing a cash-and-stock deal that would value VMware at around $140 a share, or about $60 billion, the people said, asking not to be identified because the matter isn’t public. An announcement is expected on Thursday before the market opens, unless talks fall apart at the last minute, they said.