Monday, July 02, 2007

Citadel LP Boosts Stake in 3COM (COMS) to 9.8%, Provides Update on Meeting with Management

In an amended 13D filing on 3COM Corporation (Nasdaq: COMS), Citadel LP disclosed they raised their stake in the company to 9.8% (up from 8.4%) and provided an update on meetings with the company officers.

"On May 21, 2007, representatives of CIG met with senior officers of the Issuer at the request of CIG. At this meeting, the parties discussed CIG's views regarding various aspects of the Issuer's corporate strategy including the Issuer's Huawei relationship, the Issuer's TippingPoint business and the Issuer's SCN business. Following the May 21 meeting, CIG sought to schedule further discussions with the Issuer regarding alternatives to increase shareholder value, but no further substantive discussions have been held as of the date of this filing."

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