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Communications semiconductor maker

Broadcom

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will roll out an "important strategic initiative" Monday morning, though the company didn't offer further information.

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The company said Saturday night that it will issue a press release detailing the plan Monday morning. Broadcom will then hold an 8:45 a.m. EST conference call that will be be broadcast over the Internet at

www.broadcom.com.

Broadcom shares closed Friday at $222.38, valuing the company near $50 billion.