As previously reported, on November 2, 2016, Brocade Communications
Systems, Inc. (the Company) entered into an Agreement and Plan of Merger with Broadcom Limited (Broadcom), Broadcom Corporation and Bobcat Merger Sub, Inc. (the Merger Agreement) pursuant to which Broadcom agreed
to acquire the Company. Broadcom Corporation subsequently assigned all of its rights under the Merger Agreement to LSI Corporation on December 19, 2016.
On August 22, 2017, the Ministry of Commerce of the Peoples Republic of China issued a written notice that it has granted
conditional approval of the proposed acquisition (the Merger) contemplated by the Merger Agreement pursuant to the Anti-Monopoly Law of the Peoples Republic of China.
Brocade expects that the Merger will be completed during its fourth fiscal quarter ending October 28, 2017, assuming the timely
satisfaction or waiver of the other closing conditions set forth in the Merger Agreement, including clearance from the Committee on Foreign Investment in the United States.
Legal Notice Regarding Forward-Looking Statements
This communication, and any documents to which the Company refers you in this communication, contains not only historical information, but also
forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Companys current expectations or beliefs concerning future events,
including but not limited to the expected completion and timing of the proposed transaction and other information relating to the proposed transaction. Without limiting the foregoing, the words believes, anticipates,
plans, expects, intends, forecasts, should, estimates, contemplate, future, goal, potential, predict,
project, projection, target, seek, may, will, could, should, would, assuming and similar expressions are intended to identify
forward-looking statements. You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in
any such forward-looking statement. Those risks, uncertainties and assumptions include, (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the Companys business and the
price of the Companys common stock, (ii) the failure to satisfy any of the conditions to the consummation of the proposed transaction, including the receipt of certain governmental and regulatory approvals, (iii) the occurrence of
any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (iv) the outcome of any legal proceedings that have been or may be instituted against the Company related to the Merger Agreement or the
proposed transaction, and (v) other risks described in the Companys filings with the SEC, such as its Quarterly Reports on Form
10-Q
and Annual Report on Form
10-K.
Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. Except as required by applicable law or regulation, the
Company does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise.