Monday, May 4, 2009
Emulex to Broadcom: You Call That Thing an Offer?
Emulex dissed and dismissed an unsolicited bid from Broadcom this morning saying it “significantly undervalues Emulex” and is not in the best interests of shareholders. In a blistering letter appended to the rejection announcement, Emulex CEO Paul Folino described Broadcom’s unsolicited $9.25-a-share cash takeover offer as “an opportunistic attempt to take advantage of Emulex’s depressed stock price” in a souring economy.




