ISS and Glass Lewis Each Recommend Merger of ARRIS and C-COR
December 06 2007 - 11:01AM
PR Newswire (US)
Election Deadline Approaches For C-COR Shareholders SUWANEE, Ga.
and STATE COLLEGE, Pa., Dec. 6 /PRNewswire-FirstCall/ -- ARRIS
Group, Inc. (NASDAQ:ARRS) and C-COR Incorporated (NASDAQ:CCBL)
announced today that both Institutional Shareholder Services (ISS)
and Glass Lewis & Co., two of the leading, independent proxy
advisory firms, have recommended that the shareholders of ARRIS and
C-COR vote FOR the proposals related to the merger of C-COR with
and into a wholly owned subsidiary of ARRIS, pursuant to an
agreement and plan of merger dated September 23, 2007. ARRIS and
C-COR will hold their respective shareholder meetings on December
14, 2007. "We are very pleased with the ISS and Glass Lewis
recommendations. This represents a credible, independent validation
of the strategy behind this transaction," said Robert Stanzione,
CEO of ARRIS Group and David Woodle, CEO of C-COR. The deadline for
C-COR shareholders to elect to receive merger consideration of
cash, shares of ARRIS common stock or a combination of cash and
stock as described in the joint proxy statement/prospectus, is 5:00
pm EST, on Thursday, December 13, 2007. C-COR shareholders must
complete and return the election form and letter of transmittal,
together with certificates representing the shares of C-COR common
stock, to make a valid election. Shares of C-COR common stock as to
which the holder has not made a valid election before the election
deadline will be treated as though no election has been made. C-COR
shareholders who hold their shares in "street" name should follow
the instructions from their broker, bank, or other nominee with
respect to making elections for those shares. The vote of every
shareholder is important. Any shareholder of ARRIS or C-COR who has
not yet submitted a proxy is encouraged to do so as soon as
possible. ARRIS shareholders with questions about the merger or in
need of assistance in voting their shares should contact Morrow
& Co., LLC, toll free at +1 800 607 0088. C-COR shareholders
must submit their proxies by 11:59 pm EST, on Thursday, December
13, 2007. C-COR shareholders with questions regarding their
election or in need of assistance in voting should contact D. F.
King & Co. Inc. toll-free at +1 888-644-6971 or +1 212 269 5550
(collect). About ARRIS ARRIS provides broadband local access
networks with best-in-class video, high-speed data, mobile and
fixed-line telephony systems for the delivery of voice, video and
data to their residential and small-to-medium sized business
customers. ARRIS complete solutions enhance the reliability and
value of converged services from the network to the end-user.
Additionally, ARRIS provides a complete set of tools and cable
system infrastructure products. Headquartered in Atlanta, Georgia,
USA, ARRIS has R&D centers in Atlanta, Chicago, Cork, Ireland
and Shenzhen, China and operates support and sales offices
throughout the world. ARRIS common stock is listed on the NASDAQ
Global Market (Symbol: ARRS). For additional information regarding
ARRIS, visit http://www.arrisi.com/. About C-COR C-COR enables its
global customer base to confidently grow, manage and deliver
next-generation products and services to consumers. The Company's
integrated access and management platforms deliver highly reliable
and flexible voice, video and data, and support quick launch and
cost effective scaling of new services. C-COR's common stock is
listed on the NASDAQ Global Market (Symbol: CCBL). For additional
information regarding C-COR, visit http://www.c-cor.com/.
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 are able to 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 are
incorporated by reference in the joint proxy statement/prospectus
also can be obtained, without charge, by directing a request to
ARRIS, 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. 4438. 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, is contained in the joint proxy
statement/prospectus and other relevant materials filed with the
SEC. DATASOURCE: ARRIS Group, Inc. CONTACT: Jim Bauer of ARRIS
Group, Inc., +1-678-473-2647, Web site: http://www.arrisi.com/
http://www.c-cor.com/
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