Television

Scientific-Atlanta shareholders approve acquisition by Cisco Systems

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MUMBAI: Scientific-Atlanta, Inc. has announced that its shareholders approved the company's acquisition by Cisco Systems, Inc. at a special meeting held this morning. Shareholders will receive $43.00 in cash for each Scientific-Atlanta share they own following the closing of the transaction.

Scientific-Atlanta and Cisco previously announced that the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was terminated on 30 December, 2005. The transaction remains subject to regulatory approval by competition authorities in various jurisdictions outside the United States, states an official release.

The companies continue to expect to consummate the acquisition in the first quarter of calendar year 2006, the release adds.

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