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Following earlier confirmation that the US Department of Justice had closed its antitrust investigation into ARRIS’s proposed $2.1 billion (€1.96bn) acquisition of digital TV and broadband technology solutions provider Pace, a further obstacle to the deal’s confusion has been removed with the confirmation of 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 UK.