Waiting over for Extreme Networks transaction with Enterasys Networks Holdings
Oct 18, 2013 (TELECOMWORLDWIRE via COMTEX) --
Extreme Networks, Inc. (NASDAQ: EXTR) said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired at 11: 59PM EDT on October 15, 2013. The expiration of the waiting period is in connection with the previously announced transaction with Enterasys Networks Holdings, Inc.
Extreme Networks entered into a definitive agreement to acquire all of the outstanding stock of Enterasys in an all cash transaction valued at USD180m. Compliance with the HSR Act represents the completion of a significant closing condition for the transaction. Although the transaction remains subject to additional customary closing conditions, with few conditions remaining, Extreme Networks anticipates that the transaction will close in early November, 2013.
Extreme Networks is a leader in high-performance Ethernet switching for cloud, data centre and mobile networks. Based in San Jose, CA, Extreme Networks has more than 6,000 customers in more than 50 countries. For more information, visit http://extremenetworks.com
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