On Wednesday, Shares of Broadcom Corporation (NASDAQ:BRCM), lost -0.17% to $58.22.
Broadcom Corporation, declares that it is offering to purchase for cash any and all of its outstanding (a) $500,000,000 2.700% Senior Notes due 2018 (the “2018 Notes”), (b) $500,000,000 2.500% Senior Notes due 2022 (the “2022 Notes”), (c) $350,000,000 3.500% Senior Notes due 2024 (the “2024 Notes”) and (d) $250,000,000 4.500% Senior Notes due 2034 (the “2034 Notes” and, together with each of the 2018 Notes, the 2022 Notes and the 2024 Notes, the “Notes” and each, a “Series of Notes”) from holders of the Notes (collectively, “Holders”), as further described in the Offer to Purchase and Consent Solicitation Statement dated as of December 30, 2015 (the “Offer Document”) to be distributed to Holders. The offers to purchase the 2018 Notes, 2022 Notes, 2024 Notes and 2034 Notes are collectively referred to herein as the “Tender Offers.” Capitalized terms used but not otherwise defined in this press release shall have the meanings given to them in the Offer Document.
In conjunction with the Tender Offers, the Company is soliciting from the Holders of each Series of Notes consents and waivers (collectively, the “Consents and Waivers”) with respect to the rights of Holders to require the Company to make a Change of Control Offer as a result of the Transactions and with respect to any defaults that might result from the consummation of the Transactions and to certain additional projected amendments to the base indenture dated as of November 1, 2010, as amended by the supplemental indenture thereto with respect to each Series of Notes. The solicitation of Consents and Waivers with respect to each Series of Notes is collectively referred to herein as the “Consent Solicitation.” “Transactions,” as defined in the Offer Document, refers generally to the transactions contemplated by the Agreement and Plan of Merger, dated as of May 28, 2015, reached by and among Avago Technologies Limited (“Avago”), Broadcom and certain other parties (as amended to date, the “Merger Agreement”).
The Tender Offers commenced on December 30, 2015 and will expire at 12:00 p.m., New York time, on February 1, 2016, unless extended or earlier terminated (such date and time, as may be extended, the “Expiration Date”). Holders who wish to receive the “Total Consideration” (indicated in the table below), which comprises the “Consent Payment” (indicated in the table below), must validly tender, and not withdraw, their Notes at or before 5:00 p.m., New York time, on January 12, 2016 (such date and time, as may be extended, the “Consent Date”) through The Depository Trust Company (“DTC”). Holders who validly tender their Notes after the Consent Date and at or before the Expiration Date will receive only the “Tender Consideration” (indicated in the table below). All Holders who validly tender their Notes will be deemed to have delivered their Consents. Holders may not tender their Notes (counting following the Consent Date) without delivering their Consents, and Holders may not deliver their Consents (counting following the Consent Date) without tendering their Notes. Tendered Notes may be withdrawn and Consents may be revoked at any time at or before the Consent Date, but not thereafter.
Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. The company operates in two segments: Broadband and Connectivity, and Infrastructure and Networking.
Shares of Marathon Petroleum Corp (NYSE:MPC), inclined 0.27% to $52.30, during its last trading session.
Marathon Petroleum Corporation (MPC) President and Chief Executive Officer Gary R. Heminger declared changes in the company`s senior administration structure that will be effective Jan. 1, 2016.
Donald C. Templin, executive vice president, Supply, Transportation and Marketing, has been named president, MPLX (MPLX). Templin will continue to report to Heminger and remain an executive vice president of MPC. He will be located in Findlay.
Also effective Jan. 1, Pamela K. M. Beall, MPC`s senior vice president, Corporate Planning, Government and Public Affairs, will become executive vice president, Corporate Planning and Strategy at MPLX, reporting to Templin. She will also remain in Findlay.
Marathon Petroleum Corporation, together with its auxiliaries, engages in refining, marketing, retailing, and transporting petroleum products primarily in the United States. It operates through three segments: Refining & Marketing, Speedway, and Pipeline Transportation.
Finally, AES Corp (NYSE:AES), ended its last trade with -1.20% loss, and closed at $9.50.
On Tuesday, December 29, 2015, NASDAQ Composite ended at 5,107.94, up 1.33%, Dow Jones Industrial Average advanced 1.10% to finish the day at 17,720.98, and the S&P 500 closed at 2,078.36, up 1.06%.
AES Corp.’s stock raised by 1.59% to end Tuesday’s session at USD 9.61. The stock traded above its 50-day moving average of USD 9.53 while trading below the 200-day moving average of USD 11.29. The company’s shares fluctuated in the range of USD 9.47 and USD 9.64. A total of 3.06 million shares exchanged hands, which was lesser than its 50-day daily average volume of 5.88 million shares and its 52-week average volume of 6.11 million shares. Over the last three days AES Corp’s shares have advanced 0.73% and in the past one week the stock has moved up 4.91%. Furthermore, over the last three months the stock has gained 1.59%, while in the past six months the shares have shed 27.53%. On a compounded total return basis, the company has returned 2.51% in the past three months. Further, the company is trading at a price to earnings ratio of 11.31 and a price to book ratio of 1.79.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries.
