Corrected – Broadcom loses $19 billion in market value after bid to buy CA

By Sonam Rai and Vibhuti Sharma (Reuters) - (Corrects Emulex item in graphic) Chipmaker Broadcom Inc's surprise bid to buy software company CA Inc for $18.9 billion wiped off the same amount from its market value on Thursday, with investors and analysts struggling to find a clear reason for the deal. Citing an acquisition with no potential synergies, investors drove the company's shares down 19 percent to $197.50 - their worst day ever. CA rose 18.5 percent to $44.10.

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By: Firstpost - 6 days ago

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