3Com postpones buyout vote, still talking with Bain over security concerns
Welcome to TMCnet.com
TMC Launches New Web Sites: Cable |  WiMAX  |  Satellite  |  Robotics  |  IT | IVR |   ITEXPO West begins in:   REGISTER NOW!
Columnists:
...more
E-mail this page to a friend Order reprints online Print this page Bookmark this page Free magazines Free newsletters RSS-XML alerts
Digg this article!

TMCNet: 3Com postpones buyout vote, still talking with Bain over security concerns

[February 29, 2008]

3Com postpones buyout vote, still talking with Bain over security concerns

(Associated Press WorldStream Via Thomson Dialog NewsEdge) MARLBOROUGH, Massachusetts_3Com Corp. postponed its Friday shareholder vote on a $2.2 billion (?1.45 billion) buyout that is being held up by a U.S. national security review.

The data network equipment maker said it was still talking with its potential private equity buyer, Bain Capital Partners LLC, about alternatives that could address security concerns over a Chinese company's role in the deal.

Bain had partnered in the proposed acquisition with China's Huawei Technologies Co., a company with strong ties to the Chinese government. Lawmakers and Bush administration officials have expressed concerns that sensitive military technology could be transferred to China.



3Com said late Thursday that it would convene the meeting and immediately adjourn without a vote.

3Com has rescheduled the meeting for March 7, giving shareholders the chance to vote if a new deal is reached by then with Boston-based Bain.



Under the original proposal last September, China's Huawei Technologies Co. would have held a minority ownership stake in 3Com.

3Com and Bain said on Feb. 20 that they had withdrawn their filing on the deal with the Committee on Foreign Investment in the U.S.

3Com's shares jumped 62 cents, or 21 percent, to $3.53 in early trading Friday.

Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To TMCnet.com's Homepage ]

Digg this article!
Discussions:
Be the first to post a comment on this page!
 
By  
TMCnet
+ Add to the Discussion

Video: AT&T Cell Phone Problems

(BEAMER) OPEN (ON CAM) NEW AT 10.. FOR SEVERAL HOURS TODAY...MANY AT&

Video: Sector to Watch: Technology

Nokia Says 3Q Market Share to Fall on Slow Intro of Mid-Range Devices; UBS Halves Chip Growth Forecast; UBS Cuts STMicroelectronics to "Sell"; Merrill Lynch Cuts AMD to "Underperform"

Video: Tech Test: Google Chrome Lacks Polish

Google's new Web browser, called Chrome, does much of what a browser needs to do these days, but as AP Technology Writer Peter Svensson found out, Chrome needs some polish. (Sept. 3)

Top Stories   |   Top Stories
---------------------------
---------------------------
---------------------------
---------------------------
---------------------------


Related VoIP News   |   Latest News

E-mail this page to a friend Order reprints online Print this page Bookmark this page Free magazines Free newsletters RSS-XML alerts
  2008 TMC Labs Innovation Award Winners Announced Presented By INTERNET TELEPHONY Magazine
  White Paper Library Re-Launched On TMCnet
  Introducing the 2008 IPTV Excellence Award Presented by INTERNET TELEPHONY Magazine
  TMCnet Welcomes New Columnist Peter Brockmann
  INTERNET TELEPHONY Conference & EXPO West 2008 Exhibit Hall Nearing Capacity for Fall Event
  Customer Interaction Solutions Announces 2008 IP Contact Center Technology Pioneer Award Winners
  Customer Interaction Solutions Magazine Names Brendan B. Read Senior Contributing Editor
  TMC Schedules Internet Telephony Conference & Expo West 2008
  PIKA Technologies Launches Telephony Hardware Community on TMCnet
  Announcing the 2007 Product of the Year Award Winners Presented by Communications Solutions
  Last Call for Speech Technology Excellence Award Entries
  TMC Schedules Internet Telephony Conference & Expo West 2008
  TMCnet Welcomes New Columnist Matt Bancroft
  TMC Launches WiMAXtoday.TMCnet.com
  2008 TMC Labs Innovation Award Winners Announced by Unified Communications Magazine
  TMCnet Welcomes Rick Bye as Newest Columnist
  TMC Names Best of Show Winners of INTERNET TELEPHONY Conference & EXPO East 2008
  Interactive Intelligence Receives Record Page Views on Highest Trafficked Contact Center Site on the Web


18th INTERNET TELEPHONY Conference & EXPO West
September 16-18, 2008 — Los Angeles Convention Center, Los Angeles, CA
Featuring Collocated: Call Center 2.0 Conference

5th Annual Communications Developer Conference
September 16-18, 2008 — Los Angeles Convention Center, Los Angeles, CA

19th INTERNET TELEPHONY Conference & EXPO East
February 2-4, 2009 — Miami Beach Convention Center, Miami, FL
Featuring Collocated: Call Center 2.0 Conference

TMC's Customized Keymail Alert and RSS Service Usage Instructions
 To receive daily e-mail alerts and RSS URLs of stories posted on TMCnet.com, please enter keyword terms to match and your e-mail address.  
Keyword 1:
Keyword 2:
Keyword 3:
 
E-mail Address:

Search terms are case-insensitive.

Enclose in double-quotes for exact phrase match.

No password necessary!

Latest TMCnet Headlines

Latest Company News
Subscribe FREE to all of TMC's monthly magazines. Click here now.
TMC LOGO
Technology Marketing Corporation,
One Technology Plaza, Norwalk, CT 06854 USA
Ph: 800-243-6002, 203-852-6800; Fx: 203-866-3326
General comments: tmc@tmcnet.com. Comments about this site: webmaster@tmcnet.com.
About   Contact  Advertise
Technology Marketing Corp. 1997-2008 Copyright. Privacy Policy Sitemap
Advanced