MOFCOM Approves HP’s 3Com Acquisition

Hewlett-Packard Co. yesterday received approval from China’a Ministry of Commerce (MOFCOM) to proceed with its acquisition of 3Com.

As stated in an SEC filing by 3Com, MOFCOM’s approval was the last of the required regulatory hurdles the acquisition had to clear. The parties expect to close the transaction on or about April 12, 2010. HP is expected to make a formal announcement on that date.

Just after 3Com filed its notice with the SEC, Standard & Poor’s said NewMarket Corp. will replace 3Com on the S&P MidCap 400 index.

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