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HP Gets Go-ahead to Take Over 3Com

April 7, 2010 -Today, 3Com Corp. and Hewlett-Packard Co. 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. The parties expect to close the transaction on or about April 12, 3Com said today in a filing with the Securities and Exchange Commission.

This article originally appeared here