BUZZ-Pace Plc: Down on Arris revenue and EPS warning
** British set-top box maker Pace (LSE: PIC.L - news) down 5 pct after to-be acquirer Arris warned on Q2 revenue and EPS
** Network gear maker Arris said late Friday it was impacted by various pending industry consolidations and a strong dollar
** Says will continue to feel the pinch in H2, and the deal, which is still expected to close by Q4 2015, will help counter industry conditions
** Arris said in April that it would buy Pace in a $2.1 billion cash-and-stock deal to expand its operations outside North America
** Pace shareholders will receive 1.325 pounds ($2) in cash and 0.1455 new Arris shares for each share held, or 4.265 pound per share, the companies said then
** "Using the after-hours Arris price ($29.30), the Pace deal is now valued at 407 pence per share," Numis analysts wrote in a note
** Numis cuts TP on the stock to 369 pence from 443 pence, reflecting a 30 pct chance of the deal failing.
** Pace, which has risen 12.4 pct since the deal was announced, is the worst performer on the FTSE All Share Technology Hardware & Equipment Index and the FTSE All Share Technology Index. (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)