Avago To Acquire Broadcom In $37 Bln Deal - Quick Facts

(RTTNews) - Avago Technologies Limited (AVGO) and Broadcom Corp. (BRCM) announced they have entered into a definitive agreement under which Avago will acquire Broadcom in a cash and stock transaction. Avago will acquire Broadcom for $17 billion in cash consideration and the economic equivalent of approximately 140 million Avago ordinary shares, valued at $20 billion. The deal will result in Broadcom shareholders owning approximately 32% of the combined company.

Tan, President and CEO of Avago, will continue to serve as President and CEO of the combined company, which will adopt the name Broadcom Limited. Samueli will join the board of the combined company as will another director from Broadcom. Samueli will be appointed Chief Technology Officer of the combined company.