Arris downgraded to Hold from Buy at Jefferies Jefferies downgraded Arris (ARRS) after the company acquired Google's (GOOG) Motorola Home business. The firm has concerns about integration risk and views the price paid for the business as rich. Jefferies lowered its price target for Arris shares to $14 from $17.
ARRIS acquisition of Pace receives antitrust clearance from Colombia ARRIS Group announced that its proposed acquisition of Pace received unconditional merger clearance from The Superintendence of Industry and Commerce in Colombia. This clearance follows pre-conditional clearance in Germany, South Africa, and Portugal. Completion of the transaction remains subject to the expiration or termination of the waiting period under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of similar merger control requirements in Brazil, together with satisfaction of other customary closing conditions.