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Avago Technologies to acquire Broadcom
2015-05-28 17:25:23| Digital TV News
Avago Technologies (NASDAQ: AVGO) and Broadcom (NASDAQ: BRCM) have announced that they have entered into a definitive agreement under which Avago will acquire Broadcom in a cash and stock transaction that values the combined company at $77 billion in enterprise value.
Tags: technologies
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Chip maker Avago buys rival Broadcom
2015-05-28 15:51:46| BBC News | Business | UK Edition
Avago Technologies, one of the world's biggest manufacturers of semiconductors, is buying its California-based rival Broadcom for $37bn.
Avago agrees Broadcom takeover for USD 37 bln
2015-05-28 15:00:00| Telecompaper Headlines
(Telecompaper) Avago Technologies confirmed an agreement to acquire Broadcom for USD 37 billion in cash and shares. The latest merger in the semiconductor industry creates a company with annual revenues of USD 15 billion and a complete range of products for the fixed and wireless communications industries. Avago's CEO Hock Tan will lead the combined company, which will continue under the name Broadcom. Henry Samueli, co-founder, CTO and chairman of Broadcom, will serve on the new company's board, as will one other director from Broadcom. Samueli will also remain CTO of the company and serve as strategic adviser. Under the terms of the deal, Avago will pay USD 17 billion cash and 140 million of its shares, valued at USD 20 billion according to the latest share price, for all of Broadcom's stock. Shareholders of Broadcom will be able to elect for cash, shares or a combination of the two. A pro rata allocation assuming 50 percent shares and 50 percent cash would give shareholders of Broadcom 32 percent of the new group. Avago will fund the cash consideration with cash on hand from the combined companies and a new debt facility from a bank consortium worth USD 9 billion. The transaction has been unanimously approved by the boards of directors of both companies, as well as a special committee of the independent directors of Broadcom. Closing of the deal is expected by the end of the first calendar quarter of 2016, subject to regulatory and shareholder approvals.
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Broadcom (BRCM) Stock Spikes on Advanced Avago Technologies Merger Talks
2015-05-28 12:25:25| Electronics - Topix.net
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Tags: advanced
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Avago in talks to buy Broadcom for USD 35 bln - report
2015-05-28 09:25:00| Telecompaper Headlines
(Telecompaper) Chipmaker Avago Technologies is expected to soon announce its takeover of Broadcom for about USD 35 billion, the Wall Street Journal reported, with sources saying the two companies were in advanced talks. An acquisition of Broadcom valued at USD 35 billion would be the largest semiconductor takeover ever, according to market watchers. Earlier this month, reports noted Avago was looking to buy a fellow chipmaker and that it had reached out to Xilinx, Renesas Electronics and Maxim Integrated Products.
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