3Com says has not received Bain deal break-up fee

Tue Apr 29, 2008 11:56pm BST
 
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NEW YORK, April 29 (Reuters) - 3Com Corp (COMS.O: Quote, Profile, Research) said on Tuesday it has not received a $66 million break-up fee related to a merger agreement that Bain Capital Partners recently withdrew from after it failed to win U.S. government approval.

"We believe we're entitled to the break-up fee. The company will pursue that and is pursuing that," said spokesman Kevin Flanagan, who declined to give details on how exactly the company was going after the fee.

He said no lawsuits had been filed in relation to the break-up fee for the $2.2 billion plan to sell a majority stake to Bain and a minority stake to China's largest telecommunications equipment maker, Huawei Technologies Co Ltd [HWT.UL]. (Reporting by Sinead Carew; Editing by Andre Grenon)

 

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