ARRIS Announces Early Termination of the Hart-Scott-Rodino Waiting Period for Acquisition of C-COR
October 29 2007 - 9:09AM
PR Newswire (US)
Company also sets Record Date for Special Meeting of ARRIS
shareholders SUWANEE, Ga., Oct. 29 /PRNewswire-FirstCall/ -- ARRIS
Group, Inc. (NASDAQ:ARRS), a global communications technology
leader in the development of advanced cable telephony and next
generation high-speed data and video solutions across the broadband
local access network, announced today that it has received
notification from the Federal Trade Commission that early
termination of the waiting period under the Hart-Scott-Rodino (HSR)
Antitrust Improvements Act of 1976 has been granted in connection
with proposed acquisition of C-COR Incorporated (NASDAQ:CCBL). The
merger remains subject to satisfaction of other conditions,
including approval of the shareholders of both ARRIS and C-COR.
ARRIS has set November 7, 2007, as the record date for the special
meeting of its shareholders to approve the issuance of the shares
of ARRIS common stock in the merger. The special meeting of ARRIS
shareholders will be held on Friday, December 14, 2007. ARRIS and
C-COR intend to close the merger promptly following the
satisfaction or waiver of all conditions to the merger. ARRIS
provides broadband local access networks with innovative next
generation high-speed data and telephony systems for the delivery
of voice, video and data to the home and business. ARRIS' complete
solutions enhance the reliability and value of converged services
from the network to the subscriber. Headquartered in Suwanee,
Georgia, USA, ARRIS has design, engineering, distribution, service
and sales office locations throughout the world. Information about
ARRIS' products and services can be found at
http://www.arrisi.com/. Forward-Looking Statements Any statements
made in this press release regarding the proposed combination
between ARRIS Group, Inc. and C-COR Incorporated, including the
expected timetable for completing the merger, that are not
historical fact are forward-looking statements, that are based on
management's beliefs, certain assumptions and current expectations.
These statements may be identified by the use of forward-looking
terminology such as the words "expects," "thinks," "hopes,"
"believes," "anticipates" and other terms with similar meaning
indicating possible future events or actions or potential impact on
the businesses or shareholders of ARRIS and C-COR. Such statements
include, but are not limited to, statements about the various
conditions and approvals necessary for completion of the merger and
the likelihood that such conditions will be satisfied and the
timing of the transaction. There is no assurance the merger will be
completed at all, or completed upon the same terms and conditions
described. All forward-looking statements in the following excerpts
are expressly qualified by information contained in each company's
filings with the SEC. The following factors, among others, could
cause actual results to differ materially from those set forth in
the forward-looking statements: the ability to obtain required
third party approvals of the merger on the proposed terms and
schedule and the failure of ARRIS or C-COR shareholders to approve
the merger. Additional factors that could cause ARRIS' results to
differ materially from those described in the forward-looking
statements can be found in the periodic reports filed by ARRIS with
the SEC and available at the SEC's Internet site
http://www.sec.gov/. ARRIS does not undertake and specifically
disclaims, any obligation to update or revise any forward-looking
information, whether as a result of new information, future
developments or otherwise. Additional Information and Where to Find
It In connection with the proposed combination of ARRIS and C-COR,
ARRIS has filed with the SEC a registration statement on Form S-4,
which includes a proxy statement of C-COR and a proxy statement and
prospectus of ARRIS. Shareholders are urged to read the joint proxy
statement/prospectus regarding the proposed transaction, because it
contains important information. Shareholders may obtain a free copy
of the joint proxy statement/prospectus, as well as other filings
containing information about ARRIS and C-COR, without charge, at
the SEC's internet site http://www.sec.gov/. Copies of the joint
proxy statement/prospectus and the filings with the SEC that will
be incorporated by reference in the joint proxy
statement/prospectus can also be obtained, without charge, by
directing a request to ARRIS Group Inc, 3871 Lakefield Drive,
Suwanee, Georgia 30024, Attention: Investor Relations (678)
473-2647, or to C-COR, 60 Decibel Road, State College, Pennsylvania
16801, Attention: Director of Investor Relations (800) 233-2267
ext. 4402. Participants in the Solicitation ARRIS, C-COR and their
respective directors and executive officers and other persons may
be deemed to be participants in the solicitation of proxies in
respect of the proposed combination. Information regarding ARRIS'
directors and executive officers is available in the Proxy
Statement with respect to ARRIS' 2007 Annual Meeting of
Stockholders filed by ARRIS with the SEC on April 9, 2007.
Information regarding C-COR's directors and executive officers is
available in C-COR's Annual Report on Form 10-K, as amended by
C-COR on October 11, 2007. Other information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise,
will be contained in the definitive joint proxy
statement/prospectus and other relevant materials to be filed with
the SEC when they become available. DATASOURCE: ARRIS CONTACT: Jim
Bauer, Investor Relations of ARRIS, +1-678-473-2647, Web site:
http://www.arrisi.com/
Copyright
ARRIS International plc (NASDAQ:ARRS)
Historical Stock Chart
From May 2024 to Jun 2024
ARRIS International plc (NASDAQ:ARRS)
Historical Stock Chart
From Jun 2023 to Jun 2024