3Com, Bain Withdraw App

3Com and Bain Capital Partners announce mutual withdrawal of CFIUS application

February 21, 2008

1 Min Read
Network Computing logo

MARLBOROUGH, MA -- 3Com Corporation (NASDAQ: COMS) today announced that the company along with affiliates of Bain Capital Partners, LLC and Huawei Technologies have withdrawn their joint filing to the Committee on Foreign Investment in the United States (CFIUS) concerning the parties' proposed merger transaction. The parties remain committed to continuing discussions.

"We are very disappointed that we were unable to reach a mitigation agreement with CFIUS for this transaction," said Edgar Masri, President and CEO of 3Com Corporation. "While we work closely with Bain Capital Partners and Huawei to construct alternatives that would address CFIUS' concerns, we will continue to execute our strategy to build a global networking leader. We remain focused on serving our growing base of worldwide customers and providing them with innovative solutions that deliver long-term investment for their network infrastructure and offer them a lower total cost of ownership."

3Com Corp.

SUBSCRIBE TO OUR NEWSLETTER
Stay informed! Sign up to get expert advice and insight delivered direct to your inbox

You May Also Like


More Insights