ARRIS (NASDAQ:ARRS) stockholders have voted to approve the proposed acquisition by CommScope (NASDAQ:COMM) of all of the issued and to be issued ordinary shares of ARRIS pursuant to the bid conduct agreement from Nov. 8, 2018.
At a meeting convened by the High Court of Justice in England and Wales, the proposal to approve the scheme of arrangement under Part 26 of the Companies Act 2006 was approved by stockholders holding 99% of the shares voted at the meeting.
At the special general shareholder meeting convened by ARRIS, the proposal to amend ARRIS's articles of association was approved by stockholders holding 99% of the shares voted at the meeting.
"This approval marks another important milestone in accelerating our strategy. Together, we believe ARRIS and CommScope have an unprecedented opportunity to help shape future communication networks and to look to deliver additional value to our shareholders, customers, partners and employees," said Bruce McClelland, ARRIS CEO.
ARRIS expects the transaction to close in the first half of 2019, following receipt of the remaining regulatory approvals and the sanction of the the court.