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Broadcom CEO McGregor Eligible for $67 Million
2015-05-28 17:22:53| Semiconductors - Topix.net
Scott McGregor, president and chief executive officer of Broadcom Corp., holds the Tomahawk chip as sits for a photograph after a Bloomberg West Television interview in San Francisco, California, U.S., on Wednesday, Sept. 24, 2014.
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Deals of the Day: Avago's Broadcom Deal, PE Firms Vie for GE Unit
2015-05-28 17:22:51| Semiconductors - Topix.net
Avago investors like what they see in the transaction, the latest in a long string of deals for the firm. [ WSJ / WSJ ] PE eyes GE.
Chip maker Avago buys rival Broadcom
2015-05-28 15:51:46| BBC News | Business | UK Edition
Avago Technologies, one of the world's biggest manufacturers of semiconductors, is buying its California-based rival Broadcom for $37bn.
Broadcom enables KT Skylife Ultra HD satellite STB
2015-05-28 15:30:24| Digital TV News
Broadcom (NASDAQ: BRCM) has announced that KT Skylife, a leading satellite broadcast provider in South Korea, has deployed the world's first Ultra HD set-top box built on Broadcom's single chip HEVC 4K/Ultra HD satellite solution, the BCM7376.
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Avago agrees Broadcom takeover for USD 37 bln
2015-05-28 15:00:00| Telecompaper Headlines
(Telecompaper) Avago Technologies confirmed an agreement to acquire Broadcom for USD 37 billion in cash and shares. The latest merger in the semiconductor industry creates a company with annual revenues of USD 15 billion and a complete range of products for the fixed and wireless communications industries. Avago's CEO Hock Tan will lead the combined company, which will continue under the name Broadcom. Henry Samueli, co-founder, CTO and chairman of Broadcom, will serve on the new company's board, as will one other director from Broadcom. Samueli will also remain CTO of the company and serve as strategic adviser. Under the terms of the deal, Avago will pay USD 17 billion cash and 140 million of its shares, valued at USD 20 billion according to the latest share price, for all of Broadcom's stock. Shareholders of Broadcom will be able to elect for cash, shares or a combination of the two. A pro rata allocation assuming 50 percent shares and 50 percent cash would give shareholders of Broadcom 32 percent of the new group. Avago will fund the cash consideration with cash on hand from the combined companies and a new debt facility from a bank consortium worth USD 9 billion. The transaction has been unanimously approved by the boards of directors of both companies, as well as a special committee of the independent directors of Broadcom. Closing of the deal is expected by the end of the first calendar quarter of 2016, subject to regulatory and shareholder approvals.
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