Broadcom shares slide by 13.7pc; CA climbsBusiness | 13 Jul 2018 10:43 am
Software maker CA made the biggest gain in the technology sector soared after it accepted an offer from Broadcom worth US$18.9 billion, or US$44.50 per share. Its stock rocketed 18.7 percent to US$44.15 on Thursday on Wall Street.
Broadcom investors expressed their disapproval of the deal, which involves Broadcom taking on US$18 billion in debt. The stock dropped by 13.7 percent to US$209.98.
Broadcom’s market value fell by US$14.4 billion.-AP