CSCO - Acacia Communications Cancels Merger With Cisco
On Friday, Acacia Communications (NASDAQ: ACIA) terminated its merger agreement with networking equipment giant Cisco Systems (NASDAQ: CSCO) . Acacia said the decision, which was effective immediately, is due to the State Administration for Market Regulation (SAMR) in the company's native China not approving the deal in time.
Cisco soon responded with a terse press release stating that it was seeking confirmation from the Delaware Court of Chancery that all conditions have, in fact, been met. These include SAMR's approval, which Cisco claims it received on Thursday, Jan. 7.
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Acacia Communications Cancels Merger With Cisco