Avago Buys LSI For $6.6 Billion

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LSI

Avago Technologies will acquire LSI for $6.6 billion. The transaction has been approved by the boards of directors of both companies, and is expected to close during the first half of 2014, subject to regulatory approvals and customary closing conditions.

Avago will pay for the acquisition with a $4.6 billion term loan from a group of banks and a $1 billion investment from private-equity firm Silver Lake Partners.

[Image courtesy: LSI]