It is reported that 3Com Corp. and Hewlett-Packard Co. has received approval from China¡¯s Ministry of Commerce for H-P¡¯s acquisition of Marlboro-based 3Com.
H-P, based in Palo Alto, Calif., agreed in November to pay $3 billion for computer networking and switching-gear maker 3Com Corp., with an aim to expand its product portfolio, increase sales in the fast-growing Chinese market and better compete with Cisco Systems. The approval under China¡¯s anti-monopoly law is the last of the required regulatory approvals.
¡°Although both H-P and 3Com are companies listed in the U.S., a large part of 3Com¡¯s business is in China. That is why approval under China¡¯s anti-monopoly law for the acquisition is required,¡± said Edward E. Lehman, Managing Director of Lehman, Lee & Xu.
Lehman, Lee & Xu is one of the biggest Chinese law firms, with a strong team involved largely in the anti-monopoly practice area. For more information about Lehman, Lee & Xu, please visit the firm's website at www.lehmanlaw.com or feel free to e-mail the Beijing office at firstname.lastname@example.org