Arris, C-COR combination set to close following shareholder approval

By Lisa Kerner

Charlotte, N.C., Dec. 14 - Arris Group, Inc. shareholders and C-COR Inc. shareholders have approved the companies' merger, with some 98% of the shares voted cast in favor of the deal.

The transaction is expected to close on Dec. 14, according to an Arris news release.

As previously reported, on Sept. 24 Arris announced it agreed to acquire C-COR in a stock and cash deal valued at $730 million. C-COR shareholders will have the right to receive $13.75 cash or 0.9642 of an Arris share for each share of C-COR stock, subject to proration.

Arris is a broadband local access network provider based in Atlanta.

C-COR, based in State College, Pa., provides integrated network solutions.

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