3Com Announces Intent to Pursue Break-up Fee from Bain Capital

21.03.08 - 13:44 ... source : 3Com

... Contends Bain Capital's Termination of Merger Agreement is InvalidMARLBOROUGH, MASS. — March 20, 2008 — 3Com Corporation (NASDAQ: COMS) today announced that it does not believe that Bain Capital Partners, LLC's attempt to terminate its merger agreement with 3Com, which was announced earlier today by an affiliate of Bain Capital, is valid. 3Com believes that the reasons cited in Bain Capital's press release are not grounds for termination of the agreement. 3Com will continue to fulfill its obligations under the terms of the existing merger agreement while it pursues the $66 million termination fee payable under the merger agreement. 3Com intends to hold its currently scheduled shareholder meeting on Friday, March 21, 2008, at 8 a.m. EDT at the company's headquarters located at 350 Campus Drive, Marlborough, Massachusetts 01752-3064 to enable 3Com shareholders to vote on the company' ...» Next (HTML)