Raymond James analyst Simon Leopold downgraded VMware, Inc (NYSE: VMW ) from Outperform to Market Perform .
The re-rating reflects the expiry of the "Go Shop" period with no other bidders. He expects Broadcom Inc (NASDAQ: AVGO ) deal to win approval but will take about a year to close.
Leopold views Broadcom's bid of $61 billion, or $142.50 per share for VMW, as a good deal for the buyer.
The combination of support from the deal and the prospect of another bidder has supported VMware's stock.
With the expiration of the go-shop and a long wait for the ... Full story available on Benzinga.com