Avago buys LSI Corp. for $6.6B

|By:, SA News Editor

Avago Technologies (AVGO) buys LSI Corp. (LSI) for $11.15 per share in a $6.6B all-cash deal.

The company says it will use a $4.6B term loan and an investment from Silver Lake Partners to raise the funds to buy LSI.

Trading in shares of both companies has been halted.