BROADCOM (BRCM) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Broadcom Corporation

WILMINGTON, Del.--()--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Broadcom Corporation (NASDAQ: BRCM) (“Broadcom” or the “Company”) relating to the sale of the Company to Avago Technologies Limited (“Avago”). On May 28, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Avago will acquire Broadcom in a merger worth $37 million. As a result of the merger, Broadcom shareholders are only anticipated to receive $54.50 per share in cash or 0.4378 shares of the newly-formed company in exchange for each share of Broadcom. After news of the merger became public, Broadcom’s share price fell and closed at $56.25.

Andrews & Springer’s investigation has so far uncovered that the consideration Broadcom shareholders are expected to receive is inadequate. Following the merger, Broadcom shareholders are expected to be substantially diluted, owning only 32% of the combined company.

While Broadcom claims that shareholders will receive a premium for their shares, the $54.50 per share consideration represents a 4.8% discount compared to Broadcom’s $57.16 per share price on May 27, 2015, the day before the merger was announced. Additionally, analysts at Yahoo! Finance have set a $63.00 per share price target for Broadcom, which is approximately 15.5% more than what Broadcom shareholders are expected to receive.

If you own shares of Broadcom and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/BRCM or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.

Contacts

Andrews & Springer LLC
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013

Contacts

Andrews & Springer LLC
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013