Key Developments: Arris Group Inc (ARRS.O)
16.75USD
20 May 2013
$0.00 (+0.00%)
$16.75
$16.67
$16.86
$16.63
2,163,152
1,101,929
$17.98
$11.70
Latest Key Developments (Source: Significant Developments)
Arris Group Inc Announces Completion Of Holding Company Formation
Arris Group Inc announced that effective April 16, 2013, it has reorganized business by creating a new holding company structure. The primary purpose of the reorganization was to facilitate ARRIS' proposed acquisition of the Motorola Home business from a subsidiary of Google, which ARRIS expects to close April 17, 2013. The business operations of the Company and subsidiaries will not change as a result of the reorganization. The new holding company will retain the name ARRIS Group, Inc. Outstanding shares of the capital stock of the former ARRIS Group, Inc. were automatically converted, on a share for share basis, into identical shares of common stock of the new holding company. As a result, stockholders will not need to exchange their old stock certificates. The common stock of the new holding company will continue to be listed on the NASDAQ Global Market System under the symbol ARRS. Full Article
Arris Group Inc Announces Completion Of Holding Company Formation
Arris Group Inc announced that effective April 16, 2013, it has reorganized business by creating a new holding company structure. The primary purpose of the reorganization was to facilitate ARRIS' proposed acquisition of the Motorola Home business from a subsidiary of Google, which ARRIS expects to close April 17, 2013. The business operations of the Company and subsidiaries will not change as a result of the reorganization. The new holding company will retain the name ARRIS Group, Inc. Outstanding shares of the capital stock of the former ARRIS Group, Inc. were automatically converted, on a share for share basis, into identical shares of common stock of the new holding company. As a result, stockholders will not need to exchange their old stock certificates. The common stock of the new holding company will continue to be listed on the NASDAQ Global Market System under the symbol ARRS. Full Article
Arris Group Inc Receives Department Of Justice Clearance For Acquisition Of Motorola Home Business From Google's Subsdiary
Arris Group Inc announced that the U.S. Department of Justice has cleared ARRIS' proposed acquisition of the Motorola Home business from a subsidiary of Google. As a result, all required regulatory approvals have been received, or the applicable waiting periods have expired, and ARRIS expects to close the transaction on or about April 17, 2013. Full Article
Arris Group Inc Receives Department Of Justice Clearance For Acquisition Of Motorola Home Business From Google Inc's Subsdiary
Arris Group Inc announced that the U.S. Department of Justice has cleared ARRIS' proposed acquisition of the Motorola Home business from a subsidiary of Google. As a result, all required regulatory approvals have been received, or the applicable waiting periods have expired, and ARRIS expects to close the transaction on or about April 17, 2013. Full Article
Arris Group Inc Issues Q1 2013 Guidance Below Analysts' Estimates
Arris Group Inc announced that for the first quarter of 2013, it expects revenues be in the range of $337 to $357 million and non-GAAP EPS guidance of $0.22 to $0.26 and GAAP net income per diluted share in the range of $0.02 to $0.06. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $366 million and EPS of $0.28 for the first quarter of 2013. Full Article
Arris Group Inc Issues Q1 2013 Guidance Below Analysts' Estimates
Arris Group Inc announced that for the first quarter of 2013, it expects revenues be in the range of $337 to $357 million and non-GAAP EPS guidance of $0.22 to $0.26 and GAAP net income per diluted share in the range of $0.02 to $0.06. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $366 million and EPS of $0.28 for the first quarter of 2013. Full Article
ARRIS Group Inc To Acquire Motorola Home Business For $2.35 Billion In Cash And Stock From Google Inc's Motorola Mobility
ARRIS Group Inc and Google Inc jointly announced that ARRIS and Motorola Mobility, a Google subsidiary, have entered into a definitive agreement under which ARRIS will acquire the Motorola Home business from Motorola Mobility, for $2.35 billion in a cash-and-stock transaction approved by the Boards of Directors of both companies. The acquisition will be on a cash-free, debt-free basis and is expected to be significantly accretive to ARRIS' Non-GAAP earnings starting in the first full year after closing. Under the terms of the agreement, upon closing of the transaction, Google will receive $2.05 billion in cash and approximately $300 million in newly issued ARRIS shares, subject to certain adjustments provided for in the agreement, representing an approximately 15.7% ownership interest in ARRIS post-closing. The transaction is expected to close by the second quarter of 2013. The cash portion of the consideration to be received by Google at closing will be funded through debt financing commitments from Bank of America Merrill Lynch and Royal Bank of Canada. Full Article
ARRIS Group Inc To Acquire Motorola Home Business For $2.35 Billion In Cash And Stock From Google Inc's Motorola Mobility
ARRIS Group Inc and Google Inc jointly announced that ARRIS and Motorola Mobility, a Google subsidiary, have entered into a definitive agreement under which ARRIS will acquire the Motorola Home business from Motorola Mobility, for $2.35 billion in a cash-and-stock transaction approved by the Boards of Directors of both companies. The acquisition will be on a cash-free, debt-free basis and is expected to be significantly accretive to ARRIS' Non-GAAP earnings starting in the first full year after closing. Under the terms of the agreement, upon closing of the transaction, Google will receive $2.05 billion in cash and approximately $300 million in newly issued ARRIS shares, subject to certain adjustments provided for in the agreement, representing an approximately 15.7% ownership interest in ARRIS post-closing. The transaction is expected to close by the second quarter of 2013. The cash portion of the consideration to be received by Google at closing will be funded through debt financing commitments from Bank of America Merrill Lynch and Royal Bank of Canada. Full Article
Arris Group Inc Reaffirms Q4 2012 Guidance-Conference Call
Arris Group Inc announced that for the fourth quarter of 2012, it expects revenues be in the range of $345 to $365 million and non-GAAP EPS guidance of $0.26 to $0.30. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $355 million and EPS of $0.28 for the fourth quarter of 2012. Full Article
Arris Group Inc Reaffirms Q4 2012 Guidance-Conference Call
Arris Group Inc announced that for the fourth quarter of 2012, it expects revenues be in the range of $345 to $365 million and non-GAAP EPS guidance of $0.26 to $0.30. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $355 million and EPS of $0.28 for the fourth quarter of 2012. Full Article
UPDATE 2-Google sells Motorola TV set-top business for $2.35 bln
SAN FRANCISCO, Dec 19 - Google Inc agreed to sell set-top TV box maker Motorola Home to Arris Group Inc for $2.35 billion in cash and stock, the companies said on Wednesday.
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