The proposed $2.1 billion merger of Arris and Pace Plc took a step forward after receiving unconditional clearance from The Superintendence of Industry and Commerce in Colombia.
Arris said that approval follows pre-conditional clearance in Germany, South Africa, and Portugal. Arris and Pace shareholders have already approved the deal.
Arris said completion of the deal 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, along with the satisfaction of other customary closing conditions.
Arris expects the deal to close in late December or or the first quarter of 2016 amid additional requests from the U.S. Department of Justicethat could pin conditions on the deal that call on Arris to divest part of the optical transmission business of the combined company.
