Needles in Haystacks
Needles in haystacks? That's how you have to look at Broadcom's (BRCM) monster bid for NetLogic Microsytems (NETL) this morning in order to solidify its product line for cell phone makers including Apple (AAPL). Broadcom is willing to pay a huge premium -- NetLogic soared $16 points off a $32 basis -- because it wanted a friendly deal and it got one.
It's similar to when Google (GOOG) paid up gigantically for Motorola Mobility (MMI), again to get a friendly deal. Or when Texas Instruments (TXN) was willing to pay up more than $10 for National Semiconductor (NSM) when it was at $14. And it reminds me of Intel's (INTC) astoundingly high bid for McAfee (MFE), the tech security firm, to get that one on a friendly basis....309 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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