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Why did Broadcom Corp.'s stock keep rising after takeover agreement?

2015-05-30 02:45:32| Chemicals - Topix.net

The cash portion of Avago Technologies Ltd.'s cash-and-stock takeover offer for rival chip maker Broadcom Corp. is $54.50 a share. So why did Broadcom's stock trade as high as $57.30 a share Friday before closing at $56.85, up 4% from the cash offer? Several reasons, analysts said, including speculation that perhaps another suitor might surface for Irvine-based Broadcom, a leading maker of semiconductors for smartphones, Internet systems and other products.

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