3Com, Bain, Huawei pull filing with U.S. foreign investment committee

3Com, Bain, Huawei pull filing with U.S. foreign investment committee

Summary: The proposed 3Com takeover has hit another snag with the Committee on Foreign Investment in the United States (CFIUS).In a statement Wednesday, 3Com said Bain Capital Partners and Huawei Technologies have withdrawn their filing with the CFIUS regarding their proposed merger.

SHARE:
TOPICS: Security, Banking
1

The proposed 3Com takeover has hit another snag with the Committee on Foreign Investment in the United States (CFIUS).

In a statement Wednesday, 3Com said Bain Capital Partners and Huawei Technologies have withdrawn their filing with the CFIUS regarding their proposed merger. As background, the proposed takeover of 3Com has come under intense scrutiny for two reasons: First, 3Com owns security vendor TippingPoint. And second, 3Com is a key supplier to the Pentagon.

3Com appeared to be near a deal just a few weeks ago with plans to divest TippingPoint. Obviously that wasn't enough.

All parties involved said they are "committed to continuing discussions" and added that they will "construct alternatives that would address CFIUS’ concerns."

Topics: Security, Banking

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

1 comment
Log in or register to join the discussion
  • If the Pentagon is the issue then they should bail them out...

    If the biggest hurdle to having a foreign government purchase 3COM (which I personally don't like the idea) is because 3COM supplies equipment to the Pentagon then it would only be sound for the Pentagon to pour some money into 3COM.

    I understand the issues involved but if this is truly the case then either scenario 1.Foreign Purchase or 2.3COM going out of business would be a bad situation for the Pentagon.

    Those "Boys with the big toys" at the Pentagon have certainly poured money into less worthy ventures so pay up or shut up.
    dunn@...