ARRIS Receives Second Request Related to Purchase of Motorola Home Unit from Google
ARRIS Group, Inc. (NASDAQ: ARRS) today announced that ARRIS and Google Inc. have received a request for additional information and documentary materials (a "Second Request") from the Department of Justice regarding ARRIS' proposed acquisition of the Motorola Home business from Google. The information request was issued in conjunction with the DOJ's review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR Act").
The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after each company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the DOJ. ARRIS noted that both companies intend to respond to the information request as quickly as practicable and continue to work cooperatively with the DOJ in connection with its review. ARRIS believes the transaction is pro-competitive and will create compelling new opportunities for its customers and partners worldwide. Close scrutiny is typical in transactions of this size. Completion of the transaction remains subject to the expiration or termination of the waiting period under the HSR Act, the satisfaction of similar requirements in certain foreign countries, and satisfaction of other customary closing conditions. ARRIS continues to anticipate the transaction will close in the second quarter of 2013, and will provide regular updates to the market.
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