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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Acacia Communications Inc | NASDAQ:ACIA | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 114.99 | 113.10 | 115.00 | 0 | 01:00:00 |
From May 2019 to May 2024
By Chris Wack
Acacia Communications Inc. said Friday it has elected to terminate its merger agreement with Cisco Systems Inc., effective immediately.
Acacia said the merger didn't receive approval from the Chinese government's State Administration for Market Regulation within the time frame contemplated by the merger agreement, so it didn't have an obligation to close the merger before the arrival of the Jan. 8 extended end date. Acacia said it exercised its right to terminate the proposed transaction in accordance with the terms of the merger agreement.
Cisco has informed it that it may dispute Acacia's right to have terminated the merger agreement. Acacia said it intends to defend any such claims.
Shares of Acacia Communications were halted in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 08, 2021 08:37 ET (13:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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