… But Emulex Advises Stockholders to Take No Action at This Time

Emulex Corporation said its Board of Directors, consistent with its fiduciary duties and with the assistance of its financial and legal advisors, Goldman, Sachs & Co. and Gibson, Dunn & Crutcher LLP respectively, will review the terms of the revised tender offer from Broadcom Corporation to acquire all of the outstanding Emulex shares for $11.00 per share in cash. Broadcom’s previous offer was $9.25 per share in cash. The Emulex Board will make its recommendation to stockholders on the revised tender offer in due course. The Company urges stockholders at this time not to tender any shares into the revised offer pending the Board’s recommendation.

Emulex noted that Broadcom stated in their announcement today that Broadcom dropped its consent solicitation without delivering any consents and that Broadcom has also filed a notice of dismissal of its Delaware litigation against Emulex and the Emulex Board of Directors.