Huawei-Bain's Acquisition of 3Com Thwarted
February 22, 2008
Chinese Huawei and US Bain Capital's US$2.2 billion acquisition deal with US-based network equipment maker 3Com hit a dead end as 3Com announced on February 21, 2008 that the company has withdrawn the application to the CFIUS (Committee on Foreign Investment in the United States), according to Dow Jones Newswire.
CFIUS, led by the US Treasury Department, began reviewing national security issues connected with the proposed deal in January 2008. Although the withdrawal signals failure to obtain approval by the US government, Bain and 3Com stated that they intend to seek other solutions to the deal.