Disk and tape drive controller and subsystems integrator Emulex Corp, Costa Mesa, California is under an $11.50 a share offer from a group led by Boston investment partnership TA Associates. The offer values Emulex at about $120m, and follows an earlier offer from the same group at a lower price, which was met with a firm we are not for sale from Emulex. The group currently holds 6.9% of Emulex’ shares. The market is not taking the bid too seriously, because the Emulex shares are still down at $10.125.
EMULEX CORP IS UNDER OFFER FROM BOSTON INVESTMENT GROUP
