Emulex asks shareholders to wait for recommendation in Broadcom offer

By Lisa Kerner

Charlotte, N.C., June 30 - Emulex Corp.'s board of directors urged the company's stockholders not to tender their shares in the revised offer from Broadcom Corp. at this time.

The board said it will make a recommendation on the offer "in due course."

On Monday, Broadcom announced it raised its tender offer for the outstanding shares of Emulex to $11.00 from $9.25 per share and extended its tender offer to midnight ET on July 14.

Broadcom said approximately 2,253,814 shares of Emulex had been tendered and not withdrawn in the offer as of 5 p.m. ET on June 17. The offer was previously extended by Broadcom to July 1 from June 17.

Emulex is a Costa Mesa, Calif., storage networking company.

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

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