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5-Day Forecast
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Wednesday, January 7, 2009
24-Hour News Technology |
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Summary box: 3Com buyout
-- The Associated Press (Published September 28‚ 2007) PENDING DEAL: Affiliates of Bain Capital LLC agreed to acquire network equipment maker 3Com Corp. for $2.2 billion, or $5.30 in cash for each share. That's a 44 percent premium over the stock's closing price Thursday. China's Huawei Technologies would hold a minority stake of 3Com. WHAT 3COM GETS: The publicly traded company would become privately held, and hopes to improve its competitive position in Asia through alliances with Huawei; the deal also puts 3Com under control of a leading U.S. private equity firm with deep financial resources and business ties in Asia. POTENTIAL HURDLE: Some U.S. lawmakers have expressed concern about Chinese companies buying ownership stakes in U.S. technology businesses. |
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