Brocade (BRCD) Deal Would Equal Vertical Integration for Broadcom (AVGO) - Stifel
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Broadcom Ltd. (AVGO) to Acquire Brocade (BRCD) in ~$5.9B Deal
November 2, 2016 7:06 AM EDTBroadcom Limited (Nasdaq: AVGO) and Brocade Communications Systems, Inc. (Nasdaq: BRCD) announced that they have entered into a definitive agreement under which Broadcom will acquire Brocade, a leader in Fibre Channel storage area network (FC SAN) switching and IP networking, for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. Broadcom expects to fund the transaction with new debt financing and cash available on its balance sheet. Broadcom, with the support of Brocade, plans to divest Brocades IP Networking business, consisting of wireless... More
RBC Capital Upgrades Brocade (BRCD) to Outperform Amid Potential Takeover
October 31, 2016 4:23 PM EDTRBC Capital upgraded Brocade (NASDAQ: BRCD) from Sector Perform to Outperform with a price target of $14.00 (from $11.00) following reports it is in advanced talks to sell itself to Broadcom (NASDAQ: AVGO).
Analyst Mitch Steves commented, "We think... More
Brocade (BRCD) Won't Comment on Takeover Report
October 31, 2016 2:03 PM EDTBrocade Communications (NASDAQ: BRCD) offered no comment on reports from Bloomberg it is in advanced talks to sell itself, with Broadcom (Nasdaq: AVGO) said to be one of the interested parties.
"... as a matter of company policy, Brocade... More
A Broadcom (AVGO) Takeover of Brocade (BRCD) Would be 5-10% Accretive - RBC
October 31, 2016 1:44 PM EDTRBC Capital analyst Amit Daryanani weighed in on reports Broadcom Limited (NASDAQ: AVGO) could bid for Brocade Communications (NASDAQ: BRCD). Daryanani said the deal fits AVGO M&A Strategy and would be 5-10% accretive.
Daryanani commented, "There has been recent... More
Brocade Communications (BRCD) November calls active into trading halt after sharp rally
October 31, 2016 12:43 PM EDTBrocade Communications (NASDAQ: BRCD) November 9 and 10 calls are active into a trading halt on the company in advanced talked to sell itself, Bloomberg reports.
... MoreBrocade Communications (BRCD) trading halted on LUDP
October 31, 2016 12:38 PM EDTBrocade Communications (NASDAQ: BRCD) trading halted on LUDP
... MoreBrocade Communications (BRCD) Said in Advanced Talks to Sell Itself (AVGO)
October 31, 2016 12:37 PM EDT(Updated - October 31, 2016 12:42 PM EDT)
Brocade Communications (NASDAQ: BRCD) said in advanced talks to sell itself, according to Bloomberg headlines.
UPDATE -Sources said that Brocade is nearing the final stages of a sales... More
