ARRIS Group, Inc. 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in