Broadcom extends $9.25-per-share tender offer for Emulex to July 1

By Lisa Kerner

Charlotte, N.C., June 18 - Broadcom Corp. extended its $9.25-per-share tender offer for Emulex Corp. to 11:59 p.m. ET on July 1 from 11:59 p.m. ET on June 17.

The offer was previously extended to June 17 from June 3.

Approximately 2,253,814 shares of Emulex had been tendered and not withdrawn in the offer as of 5 p.m. ET on June 17, Broadcom said.

"Emulex stockholders should have a chance to evaluate the fairness of our offer - they deserve better than the barriers and delaying tactics that the Emulex board has put in place," Broadcom president and chief executive officer Scott A. McGregor said in a company news release.

McGregor said Broadcom's "highly certain, all-cash offer" is a 40% premium over Emulex's stock price the day before the offer was made.

Emulex, a Costa Mesa, Calif., storage networking company, has urged its shareholders to reject Broadcom's offer.

Irvine, Calif.-based Broadcom provides semiconductors for wired and wireless communications.

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