Brocade (BRCD) Won't Comment on Takeover Report

Broadcom Ltd. (AVGO) to Acquire Brocade (BRCD) in ~$5.9B Deal

Broadcom Limited (Nasdaq: AVGO) and Brocade Communications Systems, Inc. (Nasdaq: BRCD) announced that they have entered into a definitive agreement under which Broadcom will acquire Brocade, a leader in Fibre Channel storage area network (FC SAN) switching and IP networking, for $12.75 per share in an all-cash transaction valued at approximately $5.5 billion, plus $0.4 billion of net debt. Broadcom expects to fund the transaction with new debt financing and cash available on its balance sheet. Broadcom, with the support of Brocade, plans to divest Brocades IP Networking business, consisting of wireless... More

RBC Capital Upgrades Brocade (BRCD) to Outperform Amid Potential Takeover

RBC Capital upgraded Brocade (NASDAQ: BRCD) from Sector Perform to Outperform with a price target of $14.00 (from $11.00) following reports it is in advanced talks to sell itself to Broadcom (NASDAQ: AVGO).

Analyst Mitch Steves commented, "We think... More

Brocade (BRCD) Deal Would Equal Vertical Integration for Broadcom (AVGO) - Stifel

Stifel analyst Aaron Rakers weighed in on Brocade (NASDAQ: BRCD) on reports the company is in advanced talks to sell itself with Bloomberg reporting that Broadcom (NASDAQ: AVGO) is reportedly among the interested parties involved.

Rakers commented, "A purchase by Broadcom (Avago) would be a strategic move by Broadcom to vertically integrate in an IP switching and routing market that has increasingly moved to merchant silicon. As a reminder, in mid-September Brocade announced its new SLX 9850 data center routing solutions using... More

A Broadcom (AVGO) Takeover of Brocade (BRCD) Would be 5-10% Accretive - RBC

RBC Capital analyst Amit Daryanani weighed in on reports Broadcom Limited (NASDAQ: AVGO) could bid for Brocade Communications (NASDAQ: BRCD). Daryanani said the deal fits AVGO M&A Strategy and would be 5-10% accretive.

Daryanani commented, "There has been recent... More

Unusual 11 Mid-Day Movers 10/31: (INTX) (BRCD) (TMH) Higher; (MEMP) (OPXA) (EVEP) Lower

Memorial Production Partners LP (Nasdaq: MEMP) 49.7% LOWER; announced that the board of directors of its general partner has elected to suspend MEMPs quarterly cash distributions to unitholders, effective immediately. The board believes the suspension is in the best interest of the Partnership. The Partnership also announced a reduction of its borrowing base under MEMPs credit facility from $925 million to $740 million, effective October 28, 2016, which will be further reduced to $720 million, effective December 1, 2016.

Opexa Therapeutics (Nasdaq: OPXA) 28.6% LOWER;... More

Brocade Communications (BRCD) November calls active into trading halt after sharp rally

Brocade Communications (NASDAQ: BRCD) November 9 and 10 calls are active into a trading halt on the company in advanced talked to sell itself, Bloomberg reports.

Brocade Communications (BRCD) trading halted on LUDP

Brocade Communications (NASDAQ: BRCD) trading halted on LUDP

Brocade Communications (BRCD) Said in Advanced Talks to Sell Itself (AVGO)

(Updated - October 31, 2016 12:42 PM EDT)

Brocade Communications (NASDAQ: BRCD) said in advanced talks to sell itself, according to Bloomberg headlines.

UPDATE -Sources said that Brocade is nearing the final stages of a sales... More