Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Emulex Files Definitive Consent Revocation Materials

COSTA MESA, Calif., June 15, 2009 (GLOBE NEWSWIRE) -- Emulex Corporation announced today that it has filed definitive consent revocation materials and is mailing them to stockholders. The materials relate to a consent solicitation from Broadcom Corporation and its unsolicited, non-binding $9.25 per share tender offer, which Emulex's Board of Directors unanimously determined are not in the best interests of Emulex stockholders. Emulex recommends that stockholders not consent to Broadcom's solicitation or tender into the grossly inadequate offer. Below is the text of a letter to stockholders Emulex is mailing with the consent revocation materials.

June 15, 2009

EMULEX'S BOARD UNANIMOUSLY RECOMMENDS AGAINST BROADCOM'S
INADEQUATE OFFER AND RELATED CONSENT SOLICITATION

Dear Fellow Stockholder:

Your Board of Directors continues to unanimously recommend against Broadcom Corporation's unsolicited $9.25 per share tender offer. The offer significantly undervalues Emulex's long-term prospects and is grossly inadequate. We also strongly recommend against Broadcom's related consent solicitation which ultimately aims to replace Emulex's entire Board with hand-picked Broadcom nominees. If elected, we believe their nominees will pursue Broadcom's self serving agenda of acquiring Emulex on-the-cheap to your detriment.

  • 1