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Stock Market & Financial Investment News

News Breaks
December 3, 2012
06:23 EDTELXEmulex downgraded to Sell from Neutral at Goldman
Goldman downgraded Emulex to reflect secular challenges headwinds in the core Fibre Channel adapter businesses and cyclical risk in the server market and HBA to server attach rates. Price target lowered to $6 from $7.
News For ELX From The Last 14 Days
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March 31, 2015
08:35 EDTELXAvago to commence $8 per share cash tender offer for Emulex on April 7
Avago Technologies (AVGO) and Emulex (ELX) announced that Emerald Merger Sub, Inc., a wholly owned indirect subsidiary of Avago, plans to commence its $8.00 per share cash tender offer for all shares of Emulex on April 7. The tender offer is pursuant to a merger agreement among Avago Technologies Wireless Manufacturing, a wholly owned indirect subsidiary of Avago, Purchaser and Emulex which provides for Avago USA to acquire Emulex in an all-cash transaction valued at approximately $606M, or $609Mnet of cash and debt acquired. The tender offer will remain open until 11:59 pm EDT on May 4, unless earlier terminated or extended.

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