2 posts and columns on Emulex

Emulex to Broadcom: You Call That Thing an Offer?

in News on May 4, 2009 at 11:07 am PT

Emulex dissed and dismissed an unsolicited bid from Broadcom this morning saying it “significantly undervalues Emulex” and is not in the best interests of shareholders. In a blistering letter appended to the rejection announcement, Emulex CEO Paul Folino described Broadcom’s unsolicited $9.25-a-share cash takeover offer as “an opportunistic attempt to take advantage of Emulex’s depressed stock price” in a souring economy.
teeny_tiny

Broadcom Makes Hostile $9.25/Shr Bid For Emulex

in News on April 21, 2009 at 7:00 am PT

Broadcom this morning announced an unsolicited $9.25 a share cash offer to acquire Emulex. The deal has a total value of $764 million. The offer is 40 percent above yesterday’s closing price for ELX at $6.61.