Cisco wins US govt OK for Starent purchase

AP News
|
Posted: Dec 16, 2009 5:49 PM

Cisco Systems Inc. said Wednesday it had cleared a U.S. antitrust review and expects to complete its $2.9 billion acquisition of Starent Networks Corp. in the coming days.

Cisco, the world's largest maker of computer networking gear, said the U.S. Justice Department and Federal Trade Commission had ended a mandatory waiting period to review the deal.

Tewksbury, Mass.-based Starent makes equipment that allows carriers to tie their wireless networks to the Internet. On Friday, Starent said its shareholders had endorsed the deal.

Cisco is paying $35 a share in cash.

Cisco shares were up a penny in after-hours trade at $23.46 on Friday, after closing down 3 cents at $23.45.