Wireless chipmaker Broadcom Corp (BRCM.O) agreed to purchase NetLogic Microsystems Inc (NETL.O) for about $3.7 billion to extend its range of chipmaking technology for more advanced networks. Broadcom will pay $50 per share for each NetLogic share, a premium of 57 percent over NetLogic's Friday close of $31.91 on Nasdaq. NetLogic shares rose 51 percent in pre-market trading on Monday. Broadcom expects the deal to add 10 cents a share to its earnings on an adjusted basis in 2012. The companies said the transaction has been approved by their respective boards and it is expected to close in the first half of 2012.
Broadcom Corporation (Broadcom) is a provider of semiconductor for wired and wireless communications. Shares of BRCM remained unchanged at $33.44. In the past year, the shares have traded as low as $30.71 and as high as $47.39. On average, 8544670 shares of BRCM exchange hands on a given day and today's volume is recorded at 0.
NetLogic Microsystems, Inc. is a semiconductor company that designs, develops and sells processors and high-speed integrated circuits that are used to enhance the performance, functionality and energy efficiency of advanced mobile wireless infrastructure, data center, enterprise, metro Ethernet, edge and core infrastructure networks. Shares of NETL remained unchanged at $31.91. In the past year, the shares have traded as low as $22.95 and as high as $43.71. On average, 1502760 shares of NETL exchange hands on a given day and today's volume is recorded at 246998.
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