Tuesday, September 16, 2008

Brocade Acquisition Of Foundry Networks Clears Antitrust Review

San Jose-based Brocade said Monday that it has passed the 30-day waiting period for US antitrust review under the Hart-Scott-Rodino act. The waiting period is a milestone along the firm's acquisition of Foundry Networks, which was originally announced in July. Brocade said it is paying $19.25 in cash plus stock for Foundry, in a deal worth approximately $3 billion. The deal is now expected to close by the fourth quarter of the year.