Avago to Offer $8 Per Share for Emulex
Avago Technologies, a developer of analogue semiconductor devices with a focus on III-V based products and complex CMOS devices, and Emulex Corporation, which provides network connectivity, monitoring and management solutions, today announced that Emerald Merger Sub, Inc., a wholly owned subsidiary of Avago, plans to commence its $8.00 per share cash tender offer for all shares of Emulex on April 7, 2015.
The transaction is subject to customary closing conditions, including the tender into the offer by Emulex stockholders of shares representing at least a majority of the outstanding shares of Emulex common stock on a fully diluted basis, and the satisfaction of other relevant conditions as specified in the merger agreement.
It is expected that the transaction will close in the second half of Avago's fiscal year ending November 1, 2015.
