Why Vonage Shares Are Trading Higher Today - Telefonaktiebolaget L M (NASDAQ:ERIC)

Telefonaktiebolaget LM Ericsson ERIC received clearance from the Committee on Foreign Investments in the U.S. to complete its acquisition of Vonage Holdings Corp VG.
This represents the final requisite approval to complete the deal.
The parties now expect the Merger to close by July 21.
Ericsson agreed to acquire Vonage for $6.2 billion to expand its presence in the wireless enterprise and broaden its global offerings.
Related: Ericsson Shares Slump As Lower IPR Revenues Hit Q2 Margins.
The deal was supposed to be closed by 1H of 2022 but delayed until the end of July due to a pending investigation by the U.S. national security panel.
Reuters reported that since February, Ericsson had faced a bribing scandal about payments to Iraq's Islamic State militant group, triggering investigations by different U.S. agencies.
The investigations could also derail the deal.
Price Action: VG stock is up 6.72% at $20.97, and ERIC shares are up 0.59% at $6.84 during the premarket session on the last check Friday.

Ericsson's $6.2B Vonage Buyout Receives US Panel's Clearance