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Jul 11, 2018

CA Inc. shares jump 15% on report of Broadcom buyout plan I MarketWatch Bulletin

marketwatch.com

CA Inc. shares jump 15% on report of Broadcom buyout plan

Wallace Witkowski


CA Inc. CA, +0.16% shares jumped in the extended session Wednesday following a report that Broadcom Inc. AVGO, -2.84% extended a buyout offer to the IT management software company. CA shares rallied 15% after hours, following a 0.2% gain to close the regular session at $37.21. Late Wednesday, The Wall Street Journal reported that Broadcom was planning to offer $44.50 a share, or $18 billion, for CA in a deal that could be announced as early as today. CA would rank as the first major acquisition attempt by Broadcom since the company was blocked from acquiring Qualcomm Inc. QCOM, -1.83% earlier in the year.