Avago Completes Tender Offer for Shares of PLX

Avago Technologies Limited has completed the tender offer by Avago, its indirect wholly-owned subsidiary, Avago Technologies Wireless (U.S.A.) Manufacturing Inc., and parent’s wholly-owned subsidiary, Pluto Merger Sub, Inc., to acquire outstanding shares of common stock of PLX Technology, Inc., in PCIe silicon and software connectivity solutions.

Avago expects to complete the acquisition of PLX today through a merger under Delaware law. Upon the completion of the merger, PLX will become a wholly-owned subsidiary of Avago, and PLX’s shares will cease to be traded on NASDAQ.

Result of offer and effectiveness of merger as of the expiration of the offer at 12:00 midnight New York City time on August 11, 2014, a total of 40,993,851 shares had been validly tendered and not withdrawn, representing approximately 80.3% of the outstanding shares of common stock of PLX on a fully diluted basis. All such shares have been accepted for payment and payment for such shares will be made promptly in accordance with the terms of the tender offer.

Upon the effectiveness of the merger, which will be effected pursuant to Section 251(h) of the General Corporation Law of the State of Delaware, each of the PLX shares issued and outstanding immediately prior to the merger will be converted into the right to receive the same price of $6.50 per share in cash, without interest and subject to any withholding of taxes required by applicable law, that is payable in the tender offer (except as provided in the merger agreement with respect to shares owned by Parent, PLX or their respective subsidiaries, or with respect to shares that are held by any stockholder who is entitled to demand and properly has demanded appraisal for such shares in accordance and full compliance with Delaware law).

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Avago to Acquire PCIe Specialist PLX for $309 Million
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