3Com Soars on Sale

Updated from 9 a.m.

3Com (COMS Quote) soared 35% after the telecom-equipment maker agreed to sell itself to Bain Capital and China's Huawei Technologies for $5.30 a share.

"The 3Com Board of Directors and senior management team have thoroughly reviewed our strategic alternatives and have determined that the agreement with Bain Capital provides the best value for 3Com shareholders," said Edgar Masri, 3Com president and chief executive officer. "We believe that this agreement better positions 3Com to establish itself as a global networking leader, which will benefit our employees, our customers and our partners." ...