SUWANEE, Ga., Oct. 21, 2015 /PRNewswire/ -- ARRIS Group
Inc. (NASDAQ: ARRS) today announced that at a special meeting of
stockholders held October 21, 2015,
ARRIS's stockholders approved the merger agreement implementing
ARRIS's pending acquisition of Pace (LSE: PIC) and the related
reorganization in a cash and stock transaction. The proposal
to adopt the transaction agreement and approve the merger was
approved by stockholders holding 129,714,934 shares, representing
approximately 88 percent of the outstanding ARRIS shares as of the
record date (September 10, 2015) and
over 99 percent of the shares voted at the meeting.
English law requires that Pace hold two special meetings to
approve the scheme of arrangement: a court-ordered meeting and a
general meeting, both of which are scheduled to be held on
October 22, 2015.
These stockholder approvals are conditions to the closing of the
acquisition and the merger. The closing of these transactions
remains subject to the expiration or termination of the waiting
period under the United States Hart-Scott-Rodino Antitrust
Improvements Act of 1976 and the satisfaction of similar merger
control requirements in Brazil and
Colombia, together with
satisfaction of other customary closing conditions.
Bob Stanzione, ARRIS Chairman and
CEO, commented, "We are pleased to complete another condition to
the closing of the combination. We continue to believe that
our strong, complementary businesses provide expanded opportunities
to support our customers and increase our speed of innovation as we
collaborate to invent the future."
About ARRIS
ARRIS Group, Inc. (NASDAQ: ARRS) is a world leader in
entertainment and communications technology. Our innovations
combine hardware, software, and services across the cloud, network,
and home to power TV and Internet for millions of people
around the globe. The people of ARRIS collaborate with the world's
top service providers, content providers, and retailers to
advance the state of our industry and pioneer tomorrow's connected
world. Together, we are inventing the future. For more information,
visit www.arris.com.
No Offer or Solicitation
This document is provided for informational purposes only and
does not constitute an offer to sell, or an invitation to subscribe
for, purchase or exchange, any securities or the solicitation of
any vote or approval in any jurisdiction, nor shall there be any
sale, issuance, exchange or transfer of the securities referred to
in this document in any jurisdiction in contravention of applicable
law.
Forward-Looking Statements
Statements made in this press release, including those related
to the potential synergies and opportunities are forward-looking
statements. Actual results may differ materially from the
results suggested by these statements for a variety of reasons,
including decisions made by regulatory authorities; the
requirements, conditions and limitations imposed by regulatory
authorities upon ARRIS and its business after completion of the
transaction; and the other risk factors described in ARRIS'
definitive proxy statement filed with the Securities & Exchange
Commission on September 15,
2015. In providing forward-looking statements, the Company
expressly disclaims any obligation to update publicly or otherwise
these statements, whether as a result of new information, future
events or otherwise, except as required by law.
ARRIS and the ARRIS Logo are trademarks or registered
trademarks of ARRIS Enterprises, Inc. All other
trademarks are the property of their respective owners. ©
ARRIS Enterprises, Inc. 2015. All rights reserved.
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SOURCE ARRIS Group, Inc.