Option traders say Broadcom bid for Emulex set to fail

ELX – Emulex Corp . - An interesting story has been developing at network gear-maker, Emulex in which the company is being courted by Broadcom Corporation. Two months ago Broadcom offered $9.25 per share for Emulex in an effort to integrate the two companies to develop new technologies for corporate data centers. The initial Broadcom overture came in December 2008 to which Emulex wrote a letter to the company stating it was not for sale, cutting off talks and writing a poison-pill provision