From: Investor's Business Daily<ibd@ibd1.investors.com>
To: david@coronariversidehomes.com
Received: Saturday, May 16, 2009 04:56 AM
IBD Tech Report Newsletter
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Capital always flows to where there is productivity, efficiency and innovation — where you can get better returns... U.S. and European companies will have to find the means and the areas where they have a competitive advantage.
The storage company's board urged shareholders to reject a $9.25 a share takeover offer from chipmaker Broadcom, (BRCM) calling it "grossly inadequate." Emulex (ELX) said the offer was actually more like $5.59 per share, excluding its own cash balance of $302.7 mil. After Broadcom's $764 mil bid turned hostile earlier this month, Broadcom took its offer directly to Emulex shareholders at the same price the company had previously rejected. Emulex rose 0.3% to 10.66. Broadcom fell 0.7% to 20.83.
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