3Com delays buyout vote again
PrintStruggles to satisfy US security concerns
Posted in Data Networking, 6th March 2008 22:30 GMT
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In brief 3Com says it needs 14 more days to smooth out US security concerns before the company can take its pending $2.2bn sellout to a vote.
For a second time, the networking firm has postponed a shareholder meeting to decide if it will sell the company to Bain Capital and its Chinese partner, Huawei Technologies.
The three companies have struggled to find a plan that will satisfy the US government by limiting Huawei's potential access to sensitive military technology.
A shareholder meeting was originally scheduled for February 29, but was postponed until Friday, March 7. Today, 3Com said its pushing that date to March 21 in order to continue seeking alternatives with Bain and the US Committee on Foreign Investments. ®
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