LONDON (Alliance News) - US broadband network equipment maker Arris Group Inc on Wednesday said the US Department of Justice has closed its investigation into its proposed acquisition of FTSE 250-listed Pace PLC.
Arris has already secured clearance for the deal in Colombia, Germany, Portugal and South Africa and is now awaiting regulatory approval in Brazil.
Arris agreed to acquire Pace for GBP1.4 billion in cash and shares in April.
Shares in Pace were up 4.5% to 422.39 pence on Wednesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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