CSCO - Cisco and Acacia Communications Merger Going Forward After All With Revisions
It seems the latest stop-and-start multibillion-dollar marriage in the tech sector is now, once again, a go. On Thursday, Cisco Systems (NASDAQ: CSCO) and Acacia Communications (NASDAQ: ACIA) announced in a joint press release that the merger will go forward. On top of that, they've agreed to a dramatic increase in the price Cisco will pay to effectively acquire its peer.
The deal has been in the news after Acacia rather surprisingly sent notice that it was terminating it late last week. The company cited China's State Administration for Market Regulation (SAMR) not approving the arrangement in a timely manner as its reason for doing so. Cisco promptly sued Acacia in a Delaware Chancery Court to force the issue.
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Cisco and Acacia Communications Merger Going Forward After All, With Revisions