CSCO - Acacia gains as Dealreporter suggests Cisco buyout still progressing in China

Shares in Acacia Communications (ACIA) spiked in the last hour following a Dealreporter update on China's review of its planned buyout by Cisco Systems (CSCO). Acacia quickly gave back the biggest gains, but is still up 0.7%. Cisco is at session lows, -2.2%. After earlier reports that Chinese agency SAMR was awaiting final sign-off on a remedy package, Dealreporter says no other Chinese agencies have intervened, and that the new chief at SAMR is still familiarizing himself with antitrust issues. (h/t Bloomberg) So SAMR is following its standard review process, according to the report. Acacia moved lower on Monday following news that Cisco was likely to appear on a potential Chinese blacklist of U.S. companies, but that "unreliable entity list" policy didn't highlight antitrust as an issue.

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Acacia gains as Dealreporter suggests Cisco buyout still progressing in China