Chipmaker Emulex Corp. (NASDAQ:ELX) on Friday reiterated its opposition to Broadcom Corp.'s (NASDAQ:BRCM) takeover ambitions by
urging shareholders to reject the would-be suitor's $764 million, $9.25 per share hostile tender offer.
As it did May 4 when it
voiced its opposition to Broadcom's initial unsolicited offer, which was
unveiled April 21, Emulex described the bid as "grossly inadequate" and opportunistic. Emulex also has set up a Web site,
www.emulexvalue.com, with shareholder information about its opposition to Broadcom's takeover attempts.
Broadcom launched its tender offer on May 5. (The Deal Pipeline subscribers can read more about the move
here.) The tender offer expires at midnight June 3 unless extended.
- Olaf de Senerpont Domis
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