Expiration Date for Emulex Offer Extended to June 17, 2009
By Broadcom
This is a Press Release edited by StorageNewsletter.com on June 5, 2009 at 3:44 pmBroadcom Corporation announced that Fiji Acquisition Corporation has extended its tender offer for all of the currently outstanding shares of common stock (including the associated preferred stock purchase rights) of Emulex Corporation to 11:59 p.m., New York City time, on June 17, 2009, unless further extended. The tender offer was previously set to expire at 12:00 midnight, New York City time, on June 3, 2009.
"We believe our all-cash offer of $9.25 net per share reflects a full and fair price for Emulex common stock. It represents a 40% premium to the closing price of Emulex common stock on April 20, 2009, the day before Broadcom made public its offer, and a 62% premium to the average price of Emulex for the 30 trading days ending on April 20, 2009," said Scott A. McGregor, President and Chief Executive Officer of Broadcom.
As of 6:00 p.m., New York City time, on Wednesday, June 3, 2009, approximately 2,267,882 shares of Emulex had been tendered in and not withdrawn from the tender offer.