3Com plans to re-submit its proposed acqusition by Bain Capital and Huawei Technologies to federal regulators. The company announced that its shareholders' meeting,scheduled for today, would be convened and then immediately adjourned, to be reconvened next Friday, March 7, to give company officials more time to work on a new arrangement.
3Com plans to re-submit its proposed acqusition by Bain Capital and Huawei Technologies to federal regulators. The company announced that its shareholders' meeting,scheduled for today, would be convened and then immediately adjourned, to be reconvened next Friday, March 7, to give company officials more time to work on a new arrangement.The Bain-Huawei buyout hit the skids last week when the company withdrew its application from review of the federal Committee on Foreign Investment in the United States (CFIUS). Regulators and legislators have expressed concerns over the involvement of Huawei, a Chinese company, in acquiring ownership of 3Com's Tipping Point subsidiary, which makes security systems for the government, among other customers.
