Tuesday, May 26, 2009

Emulex: Broadcom Statements Inaccurate, Misleading

Costa Mesa-based Emulex is continuing its campaign against the hostile takeover bid of the firm by Broadcom, saying today in a shareholder letter that Broadcom has made a number of "misleading and inaccurate" statements in the acquisition offer. Emulex urged its stockholders to not tender their shares in the tender offer from Broadcom, saying that the offer is "grossly inadequate." Emulex said Broadcom's statements are part of a "campaign to mislead Emulex stockholders" and that its "misleading statements" are an attempt to "disparage" the company. Broadcom launched its hostile bid for Emulex on May 5th, offering $9.25 per share for the firm.

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