Avago Technologies and Broadcom Announce Commencement of Election Period for Broadcom Shareholders Parties Targeting a February 1, 2016 Closing Date
Dec 8, 2015
SINGAPORE and IRVINE, Calif. - December 7, 2015 - In connection with their previously announced business combination transaction, Avago Technologies Limited (NASDAQ: AVGO) and Broadcom Corporation (NASDAQ: BRCM) announced today that they intend to commence the election period for Broadcom shareholders on or about December 11, 2015 in preparation for a transaction closing targeted for February 1, 2016. They also announced that all regulatory approvals that are a condition to closing under the merger agreement have been obtained.
In anticipation of a target closing date of February 1, 2016, Avago and Broadcom currently intend to open the merger consideration election process and mail related election materials to Broadcom shareholders beginning on or about December 11, 2015. The final deadline for Broadcom shareholders to elect the form of consideration they wish to receive in the transaction will be publicly announced by press release at least three business days prior to the final election deadline, which election deadline is currently expected to occur on or about January 25, 2016. Broadcom shareholder elections will be subject to proration procedures, which are further described in the joint proxy statement/prospectus of Avago and Broadcom, dated September 28, 2015, and mailed to Avago and Broadcom shareholders beginning on or about September 29, 2015.
About Avago Technologies Limited
Avago Technologies Limited is a leading designer, developer and global supplier of a broad range of analog semiconductor devices with a focus on III-V based products and complex digital and mixed signal CMOS based devices. Avago's product portfolio is extensive and includes thousands of products in four primary target markets: wireless communications, enterprise storage, wired infrastructure and industrial and other.
Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.