NetLogic to be acquired by BRCM for $50/share (31.91) Broadcom (BRCM) and NETL announced they have entered into a merger under which NETL shareholders will receive $50 per share in a transaction of approximately $3.7 billion, net of cash assumed. The transaction has been approved by the BRCM and NETL boards of directors. The transaction is expected to close in the first half of 2012. Broadcom currently expects the acquisition to be accretive to earnings per share by approximately $0.10 on a non-GAAP basis in 2012. Broadcom today also reiterated its business outlook for the third quarter of 2011. Broadcom expects revenue around the middle of the previously-guided range of $1.9 billion and $2.0 billion (consensus $1.95 bln), GAAP product gross margins of flat to up slightly and GAAP research & development and selling, general and administrative expenses of flat to down $10 million in the third quarter of 2011.