Cisco Systems Inc to Acquire Splunk Inc Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : Chuck, I think the strategic fit makes a ton of sense. But I have to ask, in terms of sort of the regulatory backdrop and sort of the market participants, how are you thinking about that? Or maybe Scott can touch on this as well. In terms of your closing, I think Scott talked about the end of calendar 3Q of 2024. How should we think about that? And I know Splunk has a small business in China. Are you going to need approval in that market to get this deal closed? I'm just thinking back to the Acacia deal and just how that kind of played out? So any help there would be great.

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : Great. And maybe just one quick follow-up. I know Splunk has a ton of convertibles outstanding. I would assume that this transaction, they're accounted as fully diluted and that will get factored into the $28 billion consideration price. Is that the right way to think about the purchase price?