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Pace shares surge on Arris deal
2015-04-23 10:11:08| BBC News | Business | UK Edition
Shares in set-top box maker Pace jump by a third after the company agrees to be bought by Arris Group.
Arris Group will acquire UK's Pace for $2.1B, shares surge
2015-04-23 09:10:09| Telecom - Topix.net
" Arris Group said Wednesday it will buy British set-top box maker Pace for $2.1 billion in cash and stock and reincorporate in the U.K. to cut its taxes. Arris posted $5.32 billion in revenue in 2014 and said the two companies will have about $8 billion in annual revenue combined.
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Arris to acquire Pace for USD 2.1 billion
2015-04-23 02:52:00| Telecompaper Headlines
(Telecompaper) Arris and Pace jointly announced that they have agreed that Arris will acquire Pace for a total stock and cash consideration of USD 2.1 billion. The transaction will result in the formation of New Arris, which will be incorporated in the UK, and its operational and worldwide headquarters will be in Suwanee, Georgia. New Arris is expected to be listed on the Nasdaq stock exchange under the ticker ARRS. Each current share of Arris will be exchanged for one share in New Arris. Under the terms of the agreement, Pace shareholders will receive GBP 1.325 of cash and 0.1455 New Arris shares for each Pace share. The cash portion will be funded through a combination of cash and debt. Arris has secured a fully committed facility from Bank of America Merrill Lynch to meet the funding requirements. The proposed transaction has been approved by the respective Boards of Directors of Arris and Pace and is expected to close in late 2015. Arris Chairman and CEO, Bob Stanzione will be New Arris Chairman and CEO.
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Pace bought by US-based Arris
2015-04-22 23:48:40| BBC News | Business | UK Edition
The maker of TV set-top boxes Pace is bought by US-based Arris for 1.4bn.
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Can Apartment Supply and Demand Keep Pace?
2015-04-21 15:55:00| National Real Estate Investor
The percentage of vacant apartments stayed incredibly low in the first quarter, as cold weather delayed a confrontation between growing supply and growing demand. As a result, says Victor Canalog, chief economist and senior vice president for Reis Inc., The most die-hard multifamily optimists will have their beliefs tested in the next six months. read more
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