Wednesday, May 27, 2015

Broadcom in advanced talks to be bought by Avago: WSJ

Chipmaker Broadcom Corp is in talks to be bought by Avago Technologies Ltd, the Wall Street Journal reported on Wednesday.The report said the terms and timing the companies were discussing for a potential deal were not clear. Broadcom's shares rose 17 percent to $55.10 and Avago's shares rose more than 7 percent to $140.73 in afternoon trading on the news. The two companies could not immediately be reached for comment. (Reporting by Sai Sachin R and Anya George Tharakan in Bengaluru)

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