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LSI Corp

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  • Stocks closed sharply higher on a big day for corporate mergers, but investors may turn their attention back to the economy on Tuesday.

  • M&As Drive Markets Higher in Trading Monday, 4 Dec 2006 | 3:38 PM ET

    Mergers and acquisitions momentum has driven the markets today. Four big deals were initiated: Bank of New York and Mellon Financial; LSI Logic and Agere Systems; Pilgrim’s Pride and Gold Kist; and Station Casinos got a buyout offer from a group including its chairman for $4.7 billion.

  • CNBC's Bob Pisani gave his insight--here are more of the details. LSI Logic will acquire Lucent spin-off Agere Systems for $4 billion in stock. The deal values Agere at $22.81 per share. That’s a 28% premium to Friday’s closing price of $17.79. Shares of Agere have jumped in pre-market trading today – reaching $20.71.

  • CNBC's Pisani On LSI Deal for Agere Monday, 4 Dec 2006 | 8:56 AM ET

    Agere is one of the biggest makers of communication chips. They're being acquired by rival LSI Logic in a stock for stock deal--2.16 shares of LSI stock for each Agere share--$4 bl, or $22.81 a share, a 28% premium. It's an important deal--Agere sells to Alcatel-Lucent, Nortel and especially Seagate and Samsung Electronics.