24th Nov 2015 10:29
LONDON (Alliance News) - Arris Group Inc on Tuesday said its acquisition of Pace PLC has received antitrust clearance in Colombia.
The unconditional merger clearance from the Superintendence of Industry and Commerce in Colombia follows pre-conditional clearance in Germany, South Africa, and Portugal.
"Completion of the transaction remains subject to the expiration or termination of the waiting period under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of similar merger control requirements in Brazil, together with satisfaction of other customary closing conditions," Arris said.
Arris, the US broadband network equipment maker, agreed to acquire FTSE 250 constituent Pace for GBP1.4 billion in cash and shares in April.
Shares in Pace were down 1.0% at 387.00 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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