Cisco Systems Inc.’s planned $6.9 billion purchase of set-top box maker Scientific-Atlanta Inc. took a step closer to completion Jan. 3 when the networking giant said it had obtained antitrust clearance for the deal.
Lawsuits brought by Scientific-Atlanta shareholders shortly after the deal was announced in November had claimed that Cisco’s $43 per share all-cash offer for the company was too low. Some industry analysts concurred, setting off speculation that another bidder may step forward with a competing offer. Microsoft Corp. was initially rumored to be interested in Scientific-Atlanta, whose television set-top boxes are viewed as a critical component in the move to combine voice, video and data service on a single platform. However, in the weeks since those reports surfaced, the software giant has done nothing to indicate it planned to make an offer.
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