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3Com Corp. (NASDAQ: COMS) is postponing its vote that was scheduled for today over the proposed acquisition. That isn't really a surprise since the company and the Bain-led group had to withdraw their merger approval application because of CFIUS concerns.

But what is sort different is that the company is going to reconvene the meeting and vote next week on March 7, 2008. The merger was already indicated that a lower price was coming because of a divestiture that would have been a merger concession to secure CFIUS approval. It appears that 3Com and Bain Capital might be making another run at CFIUS with more concessions.

3Com continues to work with Bain Capital Partners to construct alternatives that would address concerns regarding the company's pending merger transaction with affiliates of Bain Capital Partners. The companies are leaving themselves an out if this doesn't work out:

• "There can be no assurance that these discussions will not adversely affect the terms of the pending merger transaction, including valuation, or that these discussions will result in an alternative that adequately addresses CFIUS' concerns."

We'll see if this will really yield a merger approval or not. 3Com shares are up 20% to $3.50 on renewed hops that the merger will go through. Concessions will likely lower that price far under the $5.11 highs seen over the last 52-weeks, but there's a shot this could still end up being a win for those who have invested in 3Com since the original merger was withdrawn.