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Arris Group will acquire UK's Pace for $2.1B, shares surge
2015-04-23 09:10:09| Telecom - Topix.net
" Arris Group said Wednesday it will buy British set-top box maker Pace for $2.1 billion in cash and stock and reincorporate in the U.K. to cut its taxes. Arris posted $5.32 billion in revenue in 2014 and said the two companies will have about $8 billion in annual revenue combined.
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Arris to acquire Pace for USD 2.1 billion
2015-04-23 02:52:00| Telecompaper Headlines
(Telecompaper) Arris and Pace jointly announced that they have agreed that Arris will acquire Pace for a total stock and cash consideration of USD 2.1 billion. The transaction will result in the formation of New Arris, which will be incorporated in the UK, and its operational and worldwide headquarters will be in Suwanee, Georgia. New Arris is expected to be listed on the Nasdaq stock exchange under the ticker ARRS. Each current share of Arris will be exchanged for one share in New Arris. Under the terms of the agreement, Pace shareholders will receive GBP 1.325 of cash and 0.1455 New Arris shares for each Pace share. The cash portion will be funded through a combination of cash and debt. Arris has secured a fully committed facility from Bank of America Merrill Lynch to meet the funding requirements. The proposed transaction has been approved by the respective Boards of Directors of Arris and Pace and is expected to close in late 2015. Arris Chairman and CEO, Bob Stanzione will be New Arris Chairman and CEO.
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Brookfield affiliate to acquire U.S.-based real estate trust for US$2.5 billion
2015-04-22 19:34:10| Real Estate - Topix.net
Brookfield Asset Management plans to acquire U.S.-based real estate investment trust Associated Estates Realty Corp. for US$2.5 billion. The deal will see Brookfield pay, through one of its real estate funds, $28.75 per share in cash for the Richmond Heights, Ohio,-based company.
Tags: real
estate
real estate
trust
Henkel to acquire Novamelt
2015-04-22 07:00:00| Label and Narrow Web Breaking News
Novamelt offers a comprehensive portfolio of specialized hotmelt adhesives used in self-adhesive and label applications.
Nomad Holdings inks $2.8bn deal to acquire Iglo Foods
2015-04-21 01:00:00| Food Processing Technology
Acquisition company Nomad Holdings will spend approximately 2.6bn ($2.8bn) to acquire Europe-based frozen food company Iglo Foods Holdings.
Tags: deal
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