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Bain, Huawei Abandon 3Com Takeover Bid

A growing protectionist movement in the U.S. may be behind the withdrawal of the $2.2 billion networking company takeover deal

Bain Capital and Huawei have abandoned their $2.2 billion takeover of networking firm 3Com in the face of U.S. political opposition.

3Com said in a statement Wednesday that the companies had withdrawn their application to the Committee on Foreign Investment in the United States (CFIUS).