Thursday, May 28, 2015

Chipmaker Avago to buy Broadcom in $37 billion deal

Avago Technologies Ltd (AVGO.O) said it would buy fellow chipmaker Broadcom Corp (BRCM.O) in a cash-and-stock deal valued at $37 billion.Avago, which makes chips for the wireless and industrial markets, is offering Broadcom shareholders $17 billion in cash and Avago shares valued at $20 billion. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila)

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