Silver Lake supports Avago's $6.6 bln buy of LSI Corp

Silver Lake Partners has agreed to provide $1 billion to support Avago Technologies Limited's acquisition of LSI Corp. in a deal valued at $6.6 billion. According to details of the agreement, LSI's stockholders will receive $11.15 in cash for each share of LSI common stock they hold. The transaction is expected to close during the first half of 2014. Based in San Jose, Calif., LSI Corp. designs semiconductors and software.

DealsNorth AmericaUSBriefs