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Broadcom stock rises on news of possible purchase by Avago

2015-05-27 23:21:49| Chemicals - Topix.net

Shares of Irvine-based Broadcom rose almost 22 percent on Wednesday to $57.15 a share after reports that the Irvine-based chip company was in talks to be bought by peer Avago Technologies. A purchase by Avago would be the latest in a round of consolidation in the $300 billion industry as the rising costs of production and design push chipmakers to combine.

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