VOLUME ALERT: Emulex (ELX)

Posted in General 
July 9th, 2009

Emulex Corp. (NYSE:ELX) shares are down nearly 13 percent to $8.45, having traded their average daily volume in the opening minutes of trading after the company rejected Broadcom Corp’s (Nasdaq: BRCM) sweetened buyout offer. Emulex says the $11 a share bid undervalues the company. The announcement is decreasing speculation that a deal is likely near-term. — Mike Tarsala

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