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Bids, Mergers and Takeovers

Pace Plc reiterates support for ARRIS combination

19 October 2015 07:44

Pace Plc said a potential delay to its merger with ARRIS was disappointing, but reiterated its unanimous support for the combination of the two companies.

Its comment followed a recent announcement from ARRIS Group: "Updated Status of Merger-Control Proceedings For Pace Transaction".

As a result of the continuation of the outstanding antitrust clearance processes in Brazil, Colombia and the United States, it is now expected that the transaction will not close until late December 2015 or the first quarter of 2016.

Chairman Allan Leighton commented:

"We continue to believe that the combination of the complementary ARRIS and Pace businesses will create a platform for future growth above and beyond our standalone potential".

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