U.K.-based Pace has received the required shareholder approvals at the court and general shareholder meetings held Thursday in connection to its proposed $2.1 billion merger with Arris.
Arris stockholders holding 129,714,934 shares, representing approximately 88% of outstanding Arris shares as of the record date (September 10, 2015), approved the deal on Wednesday.
Arris sees the deal closing in “late December or the first quarter of 2016” amid additional requests from the U.S. Department of Justiceand regulators in Brazil and Colombia that could pave the way for conditions that Arris divest part of the optical transmission business of the combined company.
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