Merger: £1.4bn deal for Pace moves closer as regulator gives green light

Arris, based in the Deep South state of Georgia, is buying the Saltaire-based TV technology company to help reduce corporate taxes​ and ​expand its operations outside North America.​

The Antitrust Division of the US Department of Justice (DoJ), as well as regulators in Brazil and Colombia, requested more information on the deal.

DoJ has now given the green light to the deal. Arris and Pace have also received the required clearances from regulators in Colombia, Germany, Portugal and South Africa.

However, the transaction remains subject to the satisfaction of similar merger control requirements in Brazil and the satisfaction of other customary closing conditions.

Last month, Allan Leighton, chairman of Pace, said: “While the potential delay to the date of completion is disappointing, the board of Pace believes that the strategic and economic rationale remains strong and reiterates its unanimous support for the combination.

“We continue to believe that the combination of the complementary ARRIS and Pace businesses will create a platform for future growth above and beyond our standalone potential.”