Bain's bane

20 February 2008 By Lauren Silva

The private equity firm teamed up with a Chinese tech group founded by a former general in the Chinese army to buy the US company. 3Com s technology helps safeguard computer networks. Bain should have expected the securityobsessed US government to object.

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3Com Corporation said it along with affiliates of Bain Capital and Huawei Technologies have withdrawn their joint filing to the Committee on Foreign Investment in the United States (CFIUS) concerning the parties' proposed merger transaction. The parties remain committed to continuing discussions.

"We are very disappointed that we were unable to reach a mitigation agreement with CFIUS for this transaction", said Edgar Masri, President and CEO of 3Com Corporation. "While we work closely with Bain Capital Partners and Huawei to construct alternatives that would address CFIUS's concerns, we will continue to execute our strategy to build a global networking leader".

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