Status:  Upcoming/ New Filing

Acquirer:  Broadcom Ltd. (Singapore)

Acquired:  Brocade Communications Systems, Inc. (US)

Value:  Approx. US$5.9 Billion

Industry:  Network and Data Solutions

On November 2, 2016,  Broadcom Limited, a Singapore company co-headquartered in San Jose, California, and Brocade Communications Systems, Inc.,  a California network and data storage solutions company, announced that they entered into a definitive merger agreement under which Broadcom will acquire Brocade Communications Systems, which will become a wholly owned subsidiary of Broadcom, for approximately US$5.5 billion, plus approximately $0.4 billion of debt.  (See Broadcom Press Release, Nov. 2, 2016; Brocade Communications Systems Form 8-K, Nov. 2, 2016, SEC Filing.)   The merger agreement is conditioned on clearance from the Committee on Foreign Investment in the United States (CFIUS).  (See Agreement and Plan of Merger, Sections 7.01(c), 8.01(g), in Brocade Communications Systems Form 8-K, Ex-2.1, Nov. 2, 2016, SEC Filing.)   According to Broadcom’s press release, Hock Tan, President and Chief Executive Officer of Broadcom, stated that the acquisition of Brocade Communications Systems “enhances Broadcom’s position as one of the leading providers of enterprise storage connectivity solutions to OEM customers.”