WILMINGTON, Del. (CN) – Diamond Holdings II, a unit of Bain Capital, owes $66 million under the terms of a merger agreement after a failed takeover of 3Com, the Marlborough-based networking-equipment maker claims in Delaware Chancery Court.
3Com claims Bain and a Chinese partner, Huawei Technologies, backed out of a deal to buy 3Com for $2.2 billion, partly because the U.S. Committee on Foreign Investment in the United States raised concerns that the merger would threaten national security.
3Com seeks a $66 million breakup fee. It is represented by the firm Wilson Sonshini Goodrich & Rosati P.C.