3Com, Bain Capital withdraw filing to committee on Foreign Investment in U.S.

7 Stocks You Need To Know For Tomorrow -- Free Newsletter

BOSTON, Feb 20, 2008 (Thomson Financial via COMTEX) -- COMS | news | PowerRating | PR Charts -- 3Com Corp. said Wednesday that the company along with affiliates of Bain Capital Partners LLC and Huawei Technologies have withdrawn their joint filing to the Committee on Foreign Investment in the U.S. concerning the parties' proposed merger.

However, the companies said they remain committed to continuing discussions.

3Com, a Marlborough, Mass.-based provider of secure and converged networking, said it is "very disappointed" that the parties were unable to reach a mitigation agreement with CFIUS.

3Com's board unanimously approved a merger agreement with affiliates of Bain Capital Partners for about $2.2 billion in cash on Sept. 28, 2007.

Shares of 3Com were halted in premarket trading. Greg Saulnier gs/tk1

COPYRIGHT

Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

MMMM

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index