Monday, November 21, 2011

NetLogic Stockholders Approve Acquisition by Broadcom

NetLogic Microsystems' stockholders approved the deal offer by Broadcom to acquire NetLogic for $50.00 per share in cash. The completion of the merger remains subject to the satisfaction of certain closing conditions, including the receipt of clearance by the Chinese Ministry of Commerce under the Chinese Antimonopoly Law.

  • In September 2011, Broadcom announced plans to acquire NetLogic Microsystems in a deal valued at $3.7 billion ($50 per share) net of cash assumed.

    NetLogic Microsystems, which is based in Santa Clara, California, adds a number of critical new product lines and technologies to Broadcom's portfolio, including knowledge-based processors, multi-core embedded processors, and digital front-end processors.

    The companies expect the deal to close in the first half of 2012. Broadcom currently expects the acquisition to be accretive to earnings per share by approximately $0.10 on a non-GAAP basis in 2012.