Friday, September 28th 2007
3Com Sold in $2.2 Billion Deal
Networking company 3Com announced Friday that it will be acquired by private equity company Bain Capital and former joint-venture partner Huawei Technologies in a $2.2 billion cash deal. Under the terms of the deal, 3Com shareholders will get $5.30 in cash per share, representing a 44 percent premium over 3Com's September 27 Nasdaq closing price of $3.68.
Source:
CNET News
3Com has a strong competitive position, and we believe there are significant opportunities to grow by acquiring customers and introducing new products,Jonathan Zhu, a Bain Capital managing director based in Hong Kong, said in a statement.
1 Comment on 3Com Sold in $2.2 Billion Deal