Avago Technologies Limited Successfully Completes Tender Offer for Shares of Emulex Corporation -- Acquisition to Close Today...
05 Maggio 2015 - 1:30PM
Avago Technologies Limited ("Avago") (Nasdaq:AVGO), a leading
semiconductor device supplier to the wireless, enterprise storage,
wired, and industrial end markets, announced today that it has
completed the tender offer by Avago, its indirect wholly-owned
subsidiary, Avago Technologies Wireless (U.S.A.) Manufacturing Inc.
("Parent"), and Parent's wholly-owned subsidiary, Emerald Merger
Sub, Inc., to acquire outstanding shares of common stock of Emulex
Corporation ("Emulex") (NYSE:ELX), a leader in network
connectivity, monitoring and management. Avago expects to complete
the acquisition of Emulex today through a merger under Delaware law
pursuant to the merger agreement among the parties. Upon the
completion of the merger, Emulex will become a wholly-owned
subsidiary of Avago, and Emulex's shares will cease to be traded on
the New York Stock Exchange.
Result of Offer and Effectiveness of Merger
As of the expiration of the offer at 12:00 midnight New York
City time on May 5, 2015, a total of 60,493,783 shares had been
validly tendered and not withdrawn, representing approximately
60.58% of the outstanding shares of common stock of Emulex on a
fully diluted basis. All such shares have been accepted for payment
and payment for such shares will be made promptly in accordance
with the terms of the tender offer.
Upon the effectiveness of the merger, each of the Emulex shares
issued and outstanding immediately prior to the merger will be
converted into the right to receive the same price of $8 per share
in cash, without interest and subject to any withholding of taxes
required by applicable law, that is payable in the tender offer
(except as provided in the merger agreement with respect to shares
owned by Emulex or Parent or its subsidiaries, or with respect to
shares that are held by any stockholder who is entitled to demand
and properly has demanded appraisal for such shares in accordance
and full compliance with Delaware law).
ABOUT AVAGO
Avago Technologies Limited is a leading designer, developer and
global supplier of a broad range of analog, digital, mixed signal
and optoelectronics components and subsystems with a focus in III-V
compound and CMOS based semiconductor design and processing.
Avago's extensive product portfolio serves four primary target
markets: wireless communications, enterprise storage, wired
infrastructure, and industrial and other.
CAUTIONS REGARDING FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking statements.
Forward-looking statements may be typically identified by such
words as "may," "will," "could," "should," "expect," "anticipate,"
"plan," "likely," "believe," "estimate," "project," "intend," and
other similar expressions among others. These forward-looking
statements are subject to known and unknown risks and uncertainties
that could cause our actual results to differ materially from the
expectations expressed in the forward-looking statements. Although
Avago believes that the expectations reflected in the
forward-looking statements are reasonable, any or all of such
forward-looking statements may prove to be incorrect. Consequently,
no forward-looking statements may be guaranteed and there can be no
assurance that the actual results or developments anticipated by
such forward looking statements will be realized or, even if
substantially realized, that they will have the expected
consequences to, or effects on, Avago or its businesses or
operations. Further information on factors that could affect the
Avago's financial results is provided in documents filed by Avago
with the Securities and Exchange Commission, including its most
recent filings on Form 10-Q and Form 10-K.
CONTACT: Ashish Saran
Investor Relations
+1 408-435-7400
investor.relations@avagotech.com
Grafico Azioni Emulex (NYSE:ELX)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Emulex (NYSE:ELX)
Storico
Da Giu 2023 a Giu 2024