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Stock Market & Financial Investment News

News Breaks
December 16, 2013
08:04 EDTAVGO, LSIAvago to acquire LSI Corp. for $11.15 per share or $6.6B in cash
Avago Technologies (AVGO) and LSI Corporation (LSI) announced that they have entered into a definitive agreement under which Avago will acquire LSI for $11.15 per share in an all-cash transaction valued at $6.6B. The acquisition creates a highly diversified semiconductor market leader with approximately $5Bin annual revenues by adding enterprise storage to Avago's existing wired infrastructure, wireless and industrial businesses. The combined company will be strongly positioned to capitalize on the growing opportunities created by the rapid increases in data center IP and mobile data traffic. The transaction is expected to be significantly and immediately accretive to Avago's non-GAAP free cash flow and earnings per share. Avago currently anticipates achieving annual cost savings at a run rate of $200M by the end of the fiscal year ending November 1, 2015, the first full fiscal year after closing. Under the terms of the agreement, LSI's stockholders will receive $11.15 in cash for each share of LSI common stock they hold at closing, which is expected to occur during the first half of calendar 2014. Avago intends to fund the transaction with $1B of cash from the combined balance sheet and fully-committed financing.
News For AVGO;LSI From The Last 14 Days
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April 14, 2014
10:23 EDTLSIHigh option volume stocks: CCL WCG LSI INTU IACI
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April 10, 2014
08:18 EDTAVGOMicron licenses SerDes IP from Avago for Hybrid Memory Cube
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April 9, 2014
16:03 EDTLSI, AVGOLSI Corp. stockholders approve acquisition by Avago
LSI Corporation (LSI) announced that its stockholders approved the previously announced merger agreement with Avago Technologies (AVGO) at a special meeting of stockholders. Upon the closing of the merger, stockholders of LSI will be entitled to receive $11.15 per share in cash, without interest, less any required tax withholding. Completion of the merger is subject to remaining regulatory approvals in various jurisdictions and LSI expects the merger to close in the first half of 2014.
07:28 EDTAVGO, LSIAvago price target raised to $76 from $65 at Canaccord
Canaccord raised its price target on Avago (AVGO) citing its growth potential in the China TD-LTE market, strong RF participation in the smartphones market, and improved margins following the close of its acquisition of LSI Corp (LSI). Shares are Buy rated.
April 7, 2014
13:05 EDTAVGOAnalyst says semiconductor stocks attractive after decline
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10:00 EDTAVGOOn The Fly: Analyst Downgrade Summary
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08:16 EDTAVGOPullback in semiconductor stocks creates buying opportunity, says Sterne Agee
After many semiconductor stocks dropped significantly on Friday, Sterne Agee thinks that the group's fundamental mid to long-term outlook hasn't changed. Sterne Agee thinks the companies are poised to benefit from strong product cycles and earnings leverage. It is most upbeat on Micron (MU), NXP Semiconductors (NXPI), Avago (AVGO), Skyworks (SWKS), and SanDisk (SNDK). The firm keeps Buy ratings on all the stocks named.
06:22 EDTAVGOAvago downgraded to Buy from Conviction Buy at Goldman
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April 2, 2014
14:25 EDTLSI, AVGOLSI Corp. to host special shareholder meeting
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