Broadcom: If You Can't Buy 'em, Sue 'em

Two months after chipmaker Broadcom Corp. (NASDAQ:BRCM) gave up its hostile, $912 million takeover pursuit of Emulex Corp. (NYSE:ELX), the company has slapped its unwilling target with a patent infringment suit.

In a press release issued Monday after market close, Broadcom accused Emulex of infringing 10 of its patents related to high-speed data and storage networking technologies. The company said it is seeking unspecified monetary damages and injunctive relief from Emulex's alleged infringements.

Broadcom announced its original, $9.25 per share offer for Emulex in April, then boosted it to $11 per share in June. Throughout, Emulex steadfastly argued that Broadcom's overtures undervalued the company. Broadcom in July gave up its bid (The Deal Pipeline subscribers can read more about that here).

Emulex shares closed Monday at $10.53, a 2.6% increase.

By Olaf de Senerpont Domis