3Com and Bain Scrap Deal
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3Com said Wednesday that it has withdrawn a $2.2 billion offer for the network equipment maker from consideration by a federal national security regulator, marking the potential demise of yet another private equity deal. It crystallizes months of fears and skepticism by investors that the buyout, by Bain Capital and China's Huawei Technologies, would fail because [...].
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Private equity firm Bain Capital  said on Wednesday it continues to have "constructive"  discussions with the U.S. committee reviewing its planned $2.2  billion acquisition of network-equipment maker 3Com Corp.
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THE board of Dexia, the Franco-Belgian bank, yesterday unanimously rejected a proposed â¬37 billion (Â£26 billion) merger with Italyâs Sanpaolo, bringing an end to what would have been Europeâs biggest cross-border bank deal.
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Private equity groups KKR and Goldman Sachs pull out of their $8bn deal to buy US hi-fi firm Harman.
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IBM, the company that transformed personal computers from a hobby to an industry with the introduction of its PC line in 1981, will bow out of the increasingly low-margin market through a partnership
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Business & money: Deal forced to be scrapped as the fallout from the sub-prime markets continues to spread
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Business & money: Three lenders pull 'irresponsible' mortgages after Northern Rock comes under fire over similar deals
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Talksport-owner UTV drops its proposed merger with fellow broadcaster SMG after the latter rebuffed it.
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MARLBOROUGH, Mass. -- 3Com Corp. posted a narrower net loss in its latest quarter amid a sharp drop in operating expenses. For the fiscal first quarter ended Aug. 27, the maker of computer-networking equipment
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A deal for Bain Capital Partners and China&#39;s Huawei Technologies to buy 3Com is on hold because the companies were unable to come to agreement with the U.S. Committee on Foreign Investment in the United States (CFIUS) about&#160;security concerns.The three companies have withdrawn their joint filing with CFIUS, although they remain committed to continued discussions, they announced Wednesday.The proposed $2.2 billion deal, announced in September, raised security concerns because of networking giant Huawei&#39;s close ties with the Chinese government. Under the proposed deal, Bain would have gotten an 83.5 percent stake in 3Com and Chinese networking giant Huawei Technologies would have gotten the remaining piece. CFIUS, part of the U.S. Department of Treasury, is investigating whether the investment by Huawei poses a risk to U.S. national security after Bain voluntarily submitted the deal for review in October.&quot;We are very disappointed that we were unable to reach a mitigation agreement with CFIUS for this transaction,&quot; Edgar Masri, president and CEO of 3Com, said in a statement. &quot;While we work closely with Bain Capital Partners and Huawei to construct alternatives that would address CFIUS&#39; concerns, we will continue to execute our strategy to build a global networking leader.&quot;Among the critics of the deal was U.S. Representative Thaddeus McCotter, a Michigan Republican. Huawei&#39;s stake in 3Com, which markets intrusion detection systems, would &quot;gravely compromise&quot; U.S. national security, he said in a House floor speech in October. The U.S. Department of Defense uses 3Com intrusion detection products, and Chinese hackers have targeted the agency, McCotter said.The companies had argued that Bain Capital, based in Boston, would have a controlling interest in 3Com. &quot;Bain Capital will be able to make all operational decisions for the company, to set budgets, to spend money, to make investments, and to hire and fire personnel,&quot; 3Com said in an October filing with the U.S. Securities and Exchange Commission. &quot;Huawei will not have any control over the operation of the business.&quot;
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France Telecom's  Orange  unit has pulled out of the bidding for the UK Internet  connection business of Time Warner Inc.'s  AOL, an  industry source close to the matter said on Thursday.
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MGIC Investment Corporation and the Radian Group, scrapped their merger plan on Wednesday, the latest casualty of the turmoil in mortgage markets.
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Communications network equipment   maker 3Com Corp. COMS.O said on Thursday its quarterly loss   narrowed as revenues increased mainly due its joint venture   with China's Huawei Technologies Co. Ltd.
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A deal for Bain Capital Partners and China's Huawei Technologies to buy 3Com is on hold because the companies w...
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Intuit's move to acquire financial services vendor Digital InsightÂ this week, Â and 3Com Corp.'s deal to buy out Huawei Technologies Co. Ltd's stake in their joint venture are signs that mergers and acquisitions activity continues unabated. The question is what this means for technology generally.
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3Com (COMS: news, chart, profile) reported a loss of $35.5 million, or 9 cents a share, compared with a loss of $106 million, or 29 cents a share, in the same period a year ago.
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A deal for Bain Capital Partners and China&#39;s Huawei Technologies to buy 3Com is on hold because the companies were unable to come to agreement with the U.S. Committee on Foreign Investment in the United States (CFIUS) about&#160;security concerns.