Broadcom Tanks After $18.9 Billion CA Purchase Puzzles Market
Chipmaker Broadcom announced an agreement to acquire enterprise IT software giant CA Technologies for $18.9 billion
• There's no obvious connection between the two companies' businesses, which puzzled investors and analysts, who now question whether Broadcom's CEO Hock Tan, generally loved by Wall Street for his ability to make successful acquisitions, can make the CA deal a success, Bloomberg reported
• As a result, Broadcom's shares suffered their biggest drop ever Thursday, falling 19 percent