Avago In $6.6 Billion Deal To Acquire LSI

Avago Technologies Ltd (NASDAQ:AVGO) said today it would acquire LSI Corp (NASDAQ:LSI) for $6.6 billion with the help of a former owner. This is the biggest acquisition in the history of Avago whose chips are used in Apple Inc. (NASDAQ:AAPL)’s products. Silverlake Partners to support the deal The semi-conductor company Avago Technologies Ltd (NASDAQ:AVGO) turned to Silverlake who would invest $1 billion through a convertible note, supplementing a $4.6 billion loan from a group of banks. Silverlake’s seven-year note carries a coupon of 2% and converts to common stock at a price of $48.05, 5% over Friday’s closing price. Interestingly, Avago Technologies Ltd…