3Com delays buyout vote again
Struggles to satisfy US security concerns
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.
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. ®