U.S. Markets open in 6 hrs 2 mins

Mario Gabelli Comments on Brocade Communications

- By Holly LaFon

Brocade Communications (0.9%) (BRCD - $12.49 - NASDAQ) (BRCD) is a San Jose, California-based computer networking company. Brocade supplies networking hardware and software in addition to servicing to a wide variety of business across the world. On November 2, 2016, Brocade entered into a $12.75 cash per share merger with Broadcom. This values the company at $5.9 billion and the deal is subject to customary regulatory approvals and a shareholder vote. We expect the deal to close by the end of October 2017.

From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.
This article first appeared on GuruFocus.