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Broadcom Raises Offer for Emulex to $912M
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Broadcom(BRCM Quote) raised its offer for Emulex(ELX Quote) to $11 a share from $9.25, and said the $912 million bid is the best offer it intends to make for the storage technology company.
Emulex urged shareholders not to tender shares into the revised offer until its board issues a recommendation.
Broadcom said Monday its latest offer is a 66% premium to Emulex's closing price on April 20, the day before Broadcom announced its initial offer. ...
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