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Nice little profit. Flipped out in AH. Back down tomorrow for another one.
Can you bring it down LOWER, please?
Got some tingling in my bones about this stock. 5G tingle.
Looks like it might be a good play at these prices. SOMETHING shot this puppy up in a hurry earlier. ???????
Still watch. Bankrupt perhaps next.
COMS
Maybe another flip...watch. Last October in @ 1.20. out 2.44. Last month in @.37 out @ .41. Where is bottom now?
Off bottom perhaps..
COMS
I agree. Absolutely no sense. I have added in this range.
Price makes absolutely no sense.
Brent Davies and Dustin Mcintire seem to agree. Anyone else loading up at .65?
Going premarket.. see $10 target by some.
COMS
filled at 1.18 earlier...wondering if it will push up into close of ah's maybe pull a PH*N Monday pre
Good way to end the week. Loaded 4K shares this week. Sold some AH..hold some.
COMS
Yes Sir! Excited to see A/H today!
News: $COMS Virtual NetCom, a COMSovereign Company, to Introduce World's First AI-Enabled, Virtualized, Micro-Computing 5G Core System
DALLAS , Aug. 4, 2020 /PRNewswire/ -- COMSovereign Holding Corp. (OTCQB: COMS) ("COMSovereign" or the "Company"), a U.S.-based pure-play developer of 5G connectivity and data transmission devices, announced today that its Virtual NetCom LLC ("VNC") unit fully demonstrated its ed...
Read the whole news COMS - Virtual NetCom, a COMSovereign Company, to Introduce World's First AI-Enabled, Virtualized, Micro-Computing 5G Core System
HPQ buys COMS $2.7B cash
HP to Acquire 3Com for $2.7 Billion
HP (NYSE: HPQ) and 3Com Corporation (NASDAQ: COMS) (“3Com”) today announced that they have entered into a definitive agreement under which HP will purchase 3Com, a leading provider of networking switching, routing and security solutions, at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion. The terms of the transaction have been approved by the HP and 3Com boards of directors.
This combination will transform the networking industry and underscore HP’s next-generation data center strategy built on the convergence of servers, storage, networking, management, facilities and services. The resulting business outcome will help customers simplify the network, deploy a unique and innovative edge-to-core network fabric for the enterprise and improve IT service delivery capabilities, all delivered with best-in-class price-performance.
“Companies are looking for ways to break free from the business limitations imposed by a networking paradigm that has been dominated by a single vendor,” said Dave Donatelli, executive vice president and general manager, Enterprise Servers and Networking, HP. “By acquiring 3Com, we are accelerating the execution of our Converged Infrastructure strategy and bringing disruptive change to the networking industry. By combining HP ProCurve offerings with 3Com’s extensive set of solutions, we will enable customers to build a next-generation network infrastructure that supports customer needs from the edge of the network to the heart of the data center.”
“Our extensive product line and innovative technology together with HP’s breadth and scale will expand our global opportunity,” said Bob Mao, chief executive officer, 3Com. “3Com’s networking products are based on a modern architecture which has been designed to offer better performance, require less power and eliminate administrative complexity when compared against current network offerings. Our products are enterprise proven and widely deployed in the world’s largest banks, manufacturers, Internet service providers, public utilities and retailers.”
The acquisition of 3Com will dramatically expand HP’s Ethernet switching offerings, add routing solutions and significantly strengthen the company’s position in China – one of the world’s fastest-growing markets – via the H3C offerings. In addition, the combination will add a large and talented research and development team in China that will drive the acceleration of innovations to HP’s networking solutions.
3Com also brings to HP best-of-breed network security capabilities through its TippingPoint portfolio. For the past four years, TippingPoint has been the leader in Gartner’s “Magic Quadrant” in its evaluation of leading network security products. Approximately 30 percent of the Fortune 1000 companies have already deployed TippingPoint intrusion prevention systems.
“We are confident that we can run our entire global business of 300,000-plus employees, including our next-generation data centers, entirely on the new HP networking solutions,” said Randy Mott, executive vice president and chief information officer, HP. “Based on our experience and extensive testing of 3Com’s products, we are planning to undertake a global rollout within HP as soon as possible after the completion of the acquisition.”
Under the terms of the merger agreement, 3Com stockholders will receive $7.90 for each share of 3Com common stock that they hold at the closing of the merger. The acquisition is subject to customary closing conditions, including the receipt of domestic and foreign regulatory approvals and the approval of 3Com’s stockholders. The transaction is expected to close in the first half of calendar 2010.
HP anticipates that the transaction will be slightly dilutive to fiscal 2010 non-GAAP earnings.
Audio webcast
This afternoon HP will conduct an audio webcast for financial analysts and stockholders to discuss HP’s agreement to acquire 3Com.
Audio webcast for financial analysts and stockholders: 5 p.m. ET / 2 p.m. PT, hosted by Dave Donatelli, executive vice president and general manager of Enterprise Servers and Networking at HP. Access the live audio webcast at www.hp.com/investor/hpwebcast.
About 3Com Corporation
3Com Corporation is a $1.3 billion global enterprise networking solutions provider that sets a new price-performance standard for customers. 3Com has three global brands – H3C, 3Com and TippingPoint – that offer high-performance networking and security solutions to enterprises large and small. The H3C enterprise networking portfolio – a market leader in China – includes products that span from the data center to the edge of the network, while TippingPoint network-based intrusion prevention systems and network access control solutions deliver in-depth, no-compromise application, infrastructure and performance protection.
About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at http://www.hp.com.
Additional information and where to find it
3Com plans to file with the Securities and Exchange Commission and furnish to its stockholders a proxy statement in connection with the proposed merger. The proxy statement will contain important information about the proposed merger and related matters. Investors and stockholders are urged to read the proxy statement carefully when it becomes available. Investors and stockholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by 3Com through the website maintained by the SEC at www.sec.gov, and from 3Com by contacting Investor Relations by mail at 3Com Corporation, 350 Campus Drive, Marlborough, MA 01752-3064 Attention: Investor Relations, by telephone at +1 508 323 1198, or by going to 3Com’s Investor Information page on its corporate website at www.3com.com (click on “Investor Information”, then on “SEC Filings”).
Participants in the solicitation
3Com and HP and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from 3Com stockholders in connection with the acquisition. Information about HP’s directors and executive officers is set forth in HP’s proxy statement on Schedule 14A filed with the SEC on January 20, 2009 and HP’s Annual Report on Form 10-K filed on December 18, 2008. Information about 3Com’s directors and executive officers is set forth in 3Com’s proxy statement on Schedule 14A filed with the SEC on August 7, 2009 and 3Com’s Annual Report on Form 10-K filed on July 27, 2009. Additional information regarding the interests of participants in the solicitation of proxies in connection with the merger will be included in the proxy statement that 3Com intends to file with the SEC.
Forward-looking statements
This document contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries, on the one hand, and 3Com and its consolidated subsidiaries, on the other hand, could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions, including those conditions related to regulatory approvals; any statements of the plans, strategies and objectives of management for future operations, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, 3Com’s business may not perform as expected due to transaction-related uncertainty or other factors; that the parties are unable to successfully implement integration strategies; and other risks that are described in HP’s SEC reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2008 and Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2009, and 3Com’s SEC reports, including but not limited to the risks described in 3Com’s Annual Report on Form 10-K for its fiscal year ended May 29, 2009, and 3Com’s most recent Quarterly Report on Form 10-Q. Neither HP nor 3Com assumes any obligation and does not intend to update these forward-looking statements.
© 2009 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.
http://ih.advfn.com/p.php?pid=nmona&cb=1257974041&article=40318011&symbol=N%5ECOMS
Additional info :
3Com to Receive $70 Million from Realtek to Resolve Patent and Technology Issues
3Com Corporation (NASDAQ: COMS) today announced that on July 11, 2008 3Com and Realtek Group reached an agreement with respect to certain networking technologies of 3Com that will resolve the long-standing patent dispute between the companies. Under the terms of the agreement, Realtek will pay 3Com $70 million, within the next 45 days.
On April 9, 2008, a jury in the U.S. District Court for the Northern District of California awarded 3Com $45.3 million for past patent infringement by Realtek Semiconductor Corporation (TSE: 2379). The jury found that all six asserted claims of four 3Com patents for network interface technology were valid and had been infringed by Realtek. 3Com filed post-trial motions seeking, among other things, enhanced damages and a permanent injunction. Upon satisfaction of Realtek’s obligations under the agreement, the patent case will be dismissed.
“We are very pleased with the terms of our agreement with Realtek,” said Neal D. Goldman, 3Com executive vice president, chief administrative and legal officer. “The agreement for $70 million puts to rest the lawsuit and enables Realtek to legally use the licensed patents and related technology without disruption. We have a substantial number of networking patents and are willing to license use of those patents as part of our licensing program.” 3Com was represented in the case by Simpson Thacher & Bartlett, LLP.
Safe Harbor This news release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding our agreement with Realtek, Realtek’s future obligations under the agreement (including our receipt of $70 million), dismissal of the patent suit and 3Com’s licensing program. These statements are neither promises nor guarantees, but involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including, without limitation, risks detailed in the Company’s filings with the SEC, including those discussed in the Company’s quarterly report filed with the SEC on Form 10-Q for the quarter ended February 28, 2008.
3Com Corporation does not intend, and disclaims any obligation, to update any forward-looking information contained in this release or with respect to the announcements described herein.
About 3Com Corporation 3Com Corporation (NASDAQ: COMS) is a leading provider of secure, converged voice and data networking solutions for enterprises of all sizes. 3Com offers a broad line of innovative products backed by world class sales, service and support, which excel at delivering business value for its customers. 3Com also includes H3C Technologies Co., Limited (H3C), a China-based provider of network infrastructure products. H3C brings high-performance, cost-effective product development and a strong footprint in one of the world’s most dynamic markets. Through its TippingPoint division, 3Com is a leading provider of network-based intrusion prevention systems that deliver in-depth application protection, infrastructure protection, and performance protection. For further information, please visit www.3com.com, or the press site www.3com.com/pressbox.
Copyright © 2008 3Com Corporation. 3Com, the 3Com logo and TippingPoint are registered trademarks and H3C is a trademark of 3Com Corporation or its wholly owned subsidiaries. All other company and product names may be trademarks of their respective holders.
3Com to receieve $70 million payment from Realtek as part of patent settlement
Date : 07/14/2008 @ 9:09AM
Source : TFN
Stock : 3 Com Corp (COMS)
Quote : 2.01 0.0 (0.00%) @ 9:03AM
3Com to receieve $70 million payment from Realtek as part of patent settlement
BOSTON (Thomson Financial) - 3Com Corp. said Monday that Realtek Group will
pay it $70 million as part of a settlement regarding the long-standing patent
dispute between the two companies.
On April 9, a jury awarded 3Com $45.3 million for past patent infringement
by Realtek Semiconductor Corp. 3Com filed post-trial motions seeking enhanced
damages and a permanent injunction.
Upon satisfaction of Realtek's obligations under the agreement, the patent
case will be dismissed.
Shares of 3Com, a Marlborough, Mass.-based networking products provider,
closed Friday at $2.01.
Greg Saulnier
gs/tk1
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
I've just taken a long position here at $2.17, my stop loss is $2.00 if things move against me.
UBS Americas tech bankers join Centerview - paper
NEW YORK, June 18 (Reuters) - The co-heads of UBS AG's (UBSN.VX: Quote, Profile, Research, Stock Buzz) technology banking business in the Americas will depart the bank to join the boutique investment bank Centerview Partners, the Wall Street Journal reported on Wednesday.
The moves by David Handler, 43, and David St. Jean, 47, are the latest in a string of departures from the Swiss bank, including that of Ken Moelis, the newspaper reported in its online addition.
The Americas technology banking group brought in about $100 million in revenue for UBS last year, the newspaper said, citing a person familiar with its operations.
Handler and St. Jean joined UBS from Bear Stearns, where they advised on deals including Cisco Systems Inc's (CSCO.O: Quote, Profile, Research, Stock Buzz) $6.9 billion purchase of Scientific-Atlanta Inc in 2006.
While at UBS, the bankers worked with Huawei Technologies Co [HWT.UL] on the sale of its stake in a joint venture with 3Com Corp (COMS.O: Quote, Profile, Research, Stock Buzz). (Reporting by Matt Daily; Editing by Quentin Bryar)
3Com Selects Commtouch GlobalView Mail Reputation Service as Anti-Spam Filter Service of its X-Family Unified Security Platforms
Monday June 2, 5:00 am ET
SUNNYVALE, Calif. & MARLBOROUGH, Mass.--(BUSINESS WIRE)--3Com Corporation (Nasdaq: COMS - News) and Commtouch (Nasdaq: CTCH - News) today announced that 3Com is licensing Commtouch’s GlobalView™ Mail Reputation Service as the 3Com® Anti-Spam Filter Service of its 3Com Unified Security Platforms.
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With the addition of the Commtouch anti-spam capability to the X-Family unified security platform, not only will 3Com customers secure their networks from internal and external attacks, they will effectively eliminate 80 percent or more of the junk e-mail they receive. 3Com customers already are realizing the benefits of the Commtouch solution in their 3Com security platform.
“Since implementing the new 3Com Anti-Spam Filter Service at the perimeter, we have noticed at least an 80 percent decrease in spam and no false positives at all,” said Mike Kunz, network manager for the Collinsville, Ill., Community Unit School District 10. “Our internal anti-spam solution has shown a significant drop in workload and messages it has to filter, which has resulted in better bandwidth utilization on our local area network.”
The X-Family product line, which includes the X5 and the X506 platforms, combines zonal firewall, virtual private networks (VPN), TippingPoint® Intrusion Prevention System, e-mail filtering, Web content filtering and bandwidth management with enterprise-class quality of service, and IP routing capabilities.
“3Com’s technology strategy includes integrating best-of-breed applications and technology from our partners into our switching, routing and security products,” said Scott Hilton, vice president of enterprise products for 3Com. “The highly accurate classifications performed by the Commtouch GlobalView service enable customers to work more efficiently without worrying about losing important messages.”
Another 3Com customer, Jerry McKitterick of Covenant Theological Seminary in St. Louis, Mo., said: “We had been getting complaints from users who managed shared/departmental mailboxes that they were receiving too much spam, so we decided to try 3Com’s Anti-Spam Filter Service. We are seeing between 40 and 50 thousand connections blocked every day, and four months after implementing it, I have not had a single complaint about a false positive. The users who manage the shared mailboxes tell me that they're seeing much less spam than they did before the 3Com Anti-Spam service was activated. My experience is that you can set it and forget about it.”
Commtouch’s GlobalView™ Mail Reputation Service forms the basis for 3Com’s Anti-Spam Filter Service in the X5 and X506 platforms, offloading around 80 percent of all unwanted mail at the perimeter of the organization. Based on a real-time risk assessment of sender reliability, the GlobalView service distinguishes between “good” and “bad” senders with only the knowledge of the sender’s IP address. Benefits for end-user customers include an overall increase in organizational security and a reduction in the necessary bandwidth and back-end IT resources needed for handling email.
3Com Names Veteran Executives to Lead Human Resources and Global Supply Chain Operations
Friday May 23, 4:50 pm ET
Eileen Nelson named SVP of HR and Tony Wang VP of Worldwide Supply Chain; Appointments Will Help 3Com Accelerate Global Business Plan
MARLBOROUGH, Mass.--(BUSINESS WIRE)--3Com Corporation (NASDAQ: COMS - News) today announced the appointment of two new senior executives to help accelerate the company’s global business plan. Eileen Nelson has been named Senior Vice President, Human Resources and Tony Wang is the company’s new Vice President, Worldwide Supply Chain.
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Nelson, who reports to President and COO Ron Sege, is responsible for 3Com’s worldwide human resources organization. She will work with the 3Com’s China-based operations to drive consistency in the company’s global HR programs.
“We are very fortunate to have Eileen join 3Com,” said Sege. “With more than 25 years working in HR, she will be a tremendous asset in instilling a one-company culture. One of Eileen’s key areas of focus is to identify and recruit highly qualified people – particularly in sales and service so we can accelerate our strategy of building a growing and profitable global networking leader.”
Nelson comes to 3Com from Tropos Networks, where she had been Vice President of Human Resources since 2005. Previously, she was Senior Vice President of Human Resources for eBay. Earlier in her career Nelson held increasingly senior HR positions for several leading technology companies. She is based in the United States.
Tony Wang brings 30 years of networking industry supply chain experience to 3Com. Based in Hangzhou, China, the center of 3Com’s strong presence in the Asia-Pacific region, Wang reports to 3Com Executive Vice President Dr. Shusheng Zheng.
Tony’s key focus is to integrate the company’s two supply chains – one in China and one U.S.-based – into a single, highly efficient global organization to deliver enterprise products that lead the industry in innovation, performance and value proposition. Establishing a worldwide supply chain will help the company reduce costs and improve operational efficiency.
Wang joins 3Com after 9 years with Nortel, where most recently he was managing director of Guangdong Nortel, a joint venture between Nortel and several Chinese networking companies. Wang managed the company’s manufacturing operations. Previously, he spent more than 20 years with networking company Alcatel in China and Taiwan, rising to General Manager of
Apr-07-2008 Homing Pigeon
http://www.stockta.com/cgi-bin/analysis.pl?symb=COMS&num1=13&cobrand=&mode=stock
Stocks as Good as Gold
Chasing shiny trinkets
As a new investor, I was drawn to the allure of growth. This led me to buy -- or seriously consider buying -- shares in tech darlings such as 3Com (Nasdaq: COMS) and Level 3 Communications (Nasdaq: LVLT) in the 1990s. But while these stocks were shinier than gold for a while, the luster wore off after the bubble burst in 2000. Each stock shed more than 80% of its value in the ensuing three years, and they've made little progress in recovering since.
Not that these companies are poor businesses -- the fundamental conditions just didn't support the extreme share price at the time. I would have been far better off had I understood what demented guru Jeremy Siegel pointed out in his book, The Future for Investors: Regular investments in stable, dividend-paying stocks are ultimately the best place for long-term cash.
3Com Insiders Dig In and Buy In
3COM HAS TO STAND ALONE AFTER ITS PRIVATE-EQUITY buyout was shuttered over regulatory concerns, but insiders at the networking-equipment company have banded together, buying more than $2 million in the battered stock since March 27.
On March 27 Chairman Eric Benhamou purchased 500,000 shares for $1.1 million, an average of $2.25 a share. The purchase was his first in more than five years, according to InsiderScore.com. He now owns 1.2 million shares of Marlborough, Mass.-based 3Com.
Benhamou co-founded Bridge Communications, which merged with 3Com in 1987 and was the company's chief executive officer from 1990 to ...
3Com Director Buys Shares
3Com Director James R. Long Buys 150,000 Shares
NEW YORK (AP) -- A director of networking equipment company 3Com Corp. bought 150,000 shares of common stock, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, James R. Long reported he bought the shares for $2.26 to $2.28 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
3Com is based in Marlborough, Mass.
Form 8-K for 3COM CORP
31-Mar-2008
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Bonus Determination for Dr. Shusheng Zheng, Chief Operating Officer of H3C. On March 25, 2008, the Compensation Committee (the "Committee") of the Board of Directors of 3Com Corporation ("3Com") approved bonus payments for H3C's fiscal year 2007 for Dr. Zheng. The Committee approved a regular annual bonus payment of $309,100. In addition, under H3C's long term incentive plan, the Committee approved a payment of $500,000, payable over three years subject to continued employment. These bonuses were determined based on a variety of factors, including the Committee's review of specified business performance metrics for H3C's fiscal year 2007 and specific metrics for H3C's fourth quarter of 2007. The Committee also considered Dr. Zheng's contribution and individual performance.
ITEM 7.01 Regulation FD Disclosure
As required by its senior secured credit facility the Company made available to its senior secured bank lenders certain summary financial information concerning H3C. This financial data is attached hereto as Exhibit 99.1 and is hereby incorporated by reference into this Item 7.01. As described in Exhibit 99.1, the financial data set forth in Exhibit 99.1 differs from the H3C segment data published by the Company in its financial press releases.
The information in Item 7.01 of this Form 8-K and the exhibit attached hereto as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
99.1 H3C - Summary Financial Information Provided to Bank Lenders
Upgrades & Downgrades History
http://finance.yahoo.com/q/ud?s=COMS
3Com shares jump; Bain, Huawei to resubmit bid for 3Com, report says
Friday , February 29, 2008 11:25ET
By Staff Reporter
BOSTON, Feb 29, 2008 (Thomson Financial via COMTEX) -- Shares of 3Com Corp. surged Friday after the Wall Street Journal reported that Bain Capital LLC and Huawei Co. will will resubmit their bid for the Marlborough, Mass.-based networking equipment maker.
The newspaper, citing people familiar with the matter, said Bain Capital and Huawei Technologies Co. plan to to resubmit an application seeking U.S. approval for their planned $2.2 billion buyout of 3Com.
The new transaction would leave Huawei with 16.5% of the company and Bain holding the rest, according to the report. The purchase price is expected to remain the same.
Last week, Bain Capital and Huawei withdrew their application with the Committee on Foreign Investment in the U.S. because of concerns over the participation of China-based Huawei.
Late Thursday, 3Com said it was still talking with the two buyers about alternatives that could address U.S. security concerns over the Chinese company's role in the deal. The company said it had postponed its Friday shareholder vote on the buyout and said it would convene the meeting and immediately adjourn without a vote.
3Com rescheduled the shareholders meeting for March 7.
Shares rose nearly 21% at $3.51 on volume of 6.8 million shares. The issue's 30-day average volume is about 7.5 million Casey Logan cl/pc
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Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
MMMM
(C) 2008 XFN, Inc. All rights reserved.
Any news on the impending Buyout? -
I have not been able to determine any more than I have posted.
Cheers.
3Com shareholders seek to block $2.2B buyout by Bain Capital and China's Huawei Technologies
The Associated Press
Published: October 10, 2007
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WASHINGTON: 3Com Corp. shareholders have filed a class-action lawsuit to prevent a $2.2 billion (€1.56 billion) buyout by private equity firm Bain Capital Partners and China's Huawei Technologies, the company disclosed Wednesday.
In a filing with the Securities and Exchange Commission, the network equipment maker disclosed "several purported class-action lawsuits have been filed since Sept. 28 by 3Com shareholders" against the company, its directors, a former director, Bain Capital and in a few cases Huawei Technologies.
The plaintiffs are seeking class-action status for their suit and an injunction to stop the proposed sale of the company, Boston-based 3Com said in its SEC filing. Shareholders say the sale price agreed by 3Com is "insufficient ... (and) directors may have breached their fiduciary duties."
The shareholders also argue in their lawsuits that Bain Capital, where Republican presidential candidate Mitt Romney was once a partner, and in some cases Huawei Technologies, may have "aided and abetted the alleged breaches," according to the filing.
Last week, Bain Capital said it would submit to a national security review of the deal over concerns about the minority stake of Huawei, which has close ties to the Chinese government.
Today in Business
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On Sept. 28, Bain Capital and Shenzen-based Huawei, a privately held company, agreed to purchase 3Com for $2.2 billion (€1.56 billion) in cash. Shareholders would receive $5.30 in cash for each share of 3Com stock.
Shares of 3Com fell less than a penny to $4.85 in afternoon trading.
Terms of Use
The spread is unusual considering the -
$5.30 buyout -
I thought they paid to much for TP(tipping point). At least H3C has some value.
Well I guess not too much happened, fairly uneventful year. I am hoping this year will prove better.
3Coms is going to be a winner based on their pardners in China. IDCC is in kaoots with all of them. Lets see what happens PUNKIN611
3COM CORP (COMS)
LAST CHANGE Time Day's Range Volume
4.67 0.0 (0.0%) 04/12/2001 4.5 - 4.69 4,621,900
Time Last Size Status
18:09:00 4.6700 100 FORM T
17:59:03 4.6600 1000 FORM T
16:20:01 4.6600 100 FORM T
16:20:00 4.6700 600
16:18:01 4.6600 600 FORM T
16:18:01 4.6600 400 FORM T
16:08:01 4.6700 2500 FORM T
16:08:00 4.7000 1000 FORM T
16:08:00 4.7000 1000 FORM T
16:08:00 4.6700 600 FORM T
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