In response to two purported class action lawsuits related to its announced acquisition by Cisco Systems, Scientific-Atlanta said it believes the complaints are without merit and intends to defend the actions vigorously.
Scientific-Atlanta said its board engaged in a thorough and deliberative process to obtain the best transaction at the highest price available for its shareholders, culminating in the definitive merger agreement with Cisco, which was announced on November 18. As previously announced, Cisco is acquiring Scientific-Atlanta for $43 per share in cash in exchange for each share of Scientific-Atlanta, for an aggregate purchase price of approximately $6.9 billion.
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