Insiders' Blog
Sponsored by: Subscribe to EasyStockAlerts.com Now & Get The News Before Everyone Else!
Wall Street Slams Brocade (BRCD) on Foundry (FDRY) Buyout
More News related to BRCD
- Brocade Announces New SAN Switch for HP BladeSystem c-Class
- JANA Partners 13F Shows New Stakes in Genentech (DNA), Sears (SHLD), Washington Mutual (WM); Adds to Positions in AK Steel (AKS), Focus Media (FMCN), Transocean (RIG); Sells Out of Apple (AAPL), Lehma
- Pre-Open Movers 8/31: Deere (DE) Sinks After Missing Numbers; Longs Drug (LDG) Up on CVS Buyout
- Brocade (BRCD) Tops Q3 EPS by 2c
- Brocade Reports Third Quarter Fiscal Year 2008 Results
More News related to FDRY
- Brocade (BRCD) Tops Q3 EPS by 2c
- Foundry Simplifies Business Operations With IBM Tivoli Integration Solution
- Foundry Networks Continues Department of Defense Voice over IP Testing Certification
- Foundry Networks Propels to Number Three Position in Worldwide Carrier Ethernet Switch/Router Market
- Foundry Networks Redefines the Future of Data Centers Through Advanced Energy Efficiency and Virtual Trunk Scalability to 320 Gbps
More News related to Insiders' Blog
- Ladenburg's Bove Adds Color on Lehman (LEH) Intraday Upgrade
- Jefferies Ups Price Target on Suntech (STP) to $70; Solars Up on Rise in Oil
- Las Vegas Sands (LVS) says 6-month Macau Visa report not confirmable - Bloomberg
- Piper's Munster: "Apple Normally Trades Up 40% from Sept. to Year-End" (AAPL)
- Goldman Sachs Reiterates $149 Price Target on Crude
Investors in Brocade (Nasdaq: BRCD) are not cheering news the company will acquire Foundry Networks (Nasdaq: FDRY), sending the stock down 19% today on the news.
After the close, Brocade announced plans to acquire Foundry in a $3 billion deal. Brocade will pay a combination of $18.50 of cash plus 0.0907 shares of Brocade common stock in exchange for each share of Foundry common stock.
Wall Street was caught off guard by the news and is punishing Brocade shares today. Some think the 40% premium Brocade paid was too hefty.
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
+0.07Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
