March 20, 2008 / 5:52 PM / 11 years ago

Bain ends merger deal with 3Com, cites CFIUS

NEW YORK, March 20 (Reuters) - Bain Capital Partners said on Thursday that it had ended its agreement to buy network equipment maker 3Com Corp COMS.O citing plans by a U.S. security panel to prohibit the deal.

Bain said the U.S. Government’s Committee on Foreign Investment in the United States had said it intended to take action to prohibit the $2.2 billion deal, which would have given a minority stake to China’s biggest network equipment maker Huawei Technologies Co Ltd [HWT.UL].

The companies said last month that they were still in merger talks after they had withdrawn their application for approval with CFIUS after failing to reach an agreement with CFIUS, which reviews U.S. acquisitions involving foreign buyers. (Reporting by Sinead Carew, editing by Leslie Gevirtz)

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