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"New" GM to Begin Bailout Repayment; Dollar Drops to 15-Month Low, Gold Continues Record Highs; SEC to Investigate Trading Prior to 3Com/HP Deal; Sprint Pays Down Loan, Stock is Upgraded; Canon to Buy Europe's Largest Printer Maker; Hitachi to Raise $4.6 Billion in Stock and Bond Sale; Cisco Ups Bid for Video Conference Equipment Maker; Millions of U.S. Taxpayers May Unexpectedly Owe, Treasury Says
Hewlett Packard-3Com Deal Shows Urgency for Growth in Competitive Tech Sector
Hewlett-Packard Co.’s (NYSE: HPQ) pending buyout of 3Com Corp. (Nasdaq: COMS) highlights an accelerating race in the tech sector to grow businesses in an industry where development from within simply is not enough.
H-P will pay $2.7 billion in cash for 3Com, which is second to Cisco Systems Inc. (Nasdaq: CSCO) in business networking. Cisco and H-P have steadily been encroaching on each other’s businesses: Earlier this year, Cisco started making servers while H-P last year began to renew investment in its ProCurve networking business.
3Com Sues Bain Capital For $66 Million Failed Takeover
By Staff Reports 3Com Corp. (COMS) is suing Bain Capital Partners LLC over a $66 million termination fee that resulted when the private equity firm and Huawei Technologies Co. backed away from an attempted takeover. In September 2007, China’s No. 1 network-equipment maker and Bain Capital launched a $2.2 billion takeover bid for 3Com. The […]
Huawei Breaks Silence on Busted 3Com Deal
By Jason Simpkins Associate Editor Huawei Technologies Co. acknowledged for the first time yesterday (Monday) that a takeover of Marlborough, Massachusetts-based 3Com Corp. (COMS) would not likely proceed. “Due to the complexity of the acquisition process, the increase in acquisition costs, and the significant change in stock market conditions since last year, Bain Capital and […]
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