SUWANEE, Ga., Dec. 3, 2015 /PRNewswire/ -- ARRIS Group Inc. (NASDAQ: ARRS) today announced that its proposed acquisition of Pace plc has received preliminary approval, without restrictions, from Brazil's competition authority CADE. The clearance is expected to become final on December 19, 2015, following Brazil's mandatory appeals period. When finalized, the approval in Brazil will complete the merger-control clearances required for the transaction. ARRIS expects to close the transaction in early January 2016 following the Brazilian clearance becoming final and the sanctioning of the scheme of arrangement by the Companies Court in the U.K.
ARRIS Group, Inc. (NASDAQ: ARRS) is a world leader in entertainment and communications technology. Our innovations combine hardware, software, and services across the cloud, network, and home to power TV and Internet for millions of people around the globe. The people of ARRIS collaborate with the world's top service providers, content providers, and retailers to advance the state of our industry and pioneer tomorrow's connected world. Together, we are inventing the future. For more information, visit www.arris.com.
Statements made in this press release, including those related to the timing for the closing of the transaction are forward-looking statements. Actual results may differ materially from the results suggested by these statements for a variety of reasons, including any appeals lodged during the waiting period in Brazil; sanctioning of the scheme by the court; and the other risk factors described in ARRIS's definitive proxy statement filed with the Securities & Exchange Commission on September 15, 2015. In providing forward-looking statements, ARRIS expressly disclaims any obligation to update publicly or otherwise these statements, whether as a result of new information, future events or otherwise, except as required by law.
No Offer or Solicitation
This release is provided for informational purposes only and does not constitute an offer to sell, or an invitation to subscribe for, purchase or exchange, any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law.
ARRIS and the ARRIS Logo are trademarks or registered trademarks of ARRIS Enterprises, Inc. All other trademarks are the property of their respective owners. © ARRIS Enterprises, Inc. 2015. All rights reserved.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/arris-pace-combination-receives-preliminary-approval-from-brazil-300187368.html
SOURCE ARRIS Group, Inc.
Bob Puccini, Investor Relations, +1.720.895.7787, Bob.Puccini@arris.com