CommScope confirms Carlyle Group’s $2.98-bn takeover offer
26 Oct 2010
CommScope Inc, the communications cable maker yesterday said that it is in talks with private equity firm The Carlyle Group about being taken private for about $2.98 billion in cash.
Responding to media reports, CommScope confirmed that it is in discussions with The Carlyle Group regarding a potential transaction that would result in CommScope becoming a private company.
Under the terms of the potential offer, Carlyle would acquire all of the outstanding shares of CommScope common stock for $31.50 per share in cash, valuing the North Carolina-based company at around $2.98 billion.
CommScope added that no agreement has been reached and there can be no assurance that any transaction will result from these discussions.
Founded in North Carolina more than 30 years ago, CommScope provides infrastructure solutions for communication networks worldwide. The company operates in four segments: Antenna, Cable and Cabinet Group (ACCG); Enterprise; Broadband; and Wireless Network Solutions.
CommScope manufactures SYSTIMAX and Uniprise brands of Enterprise infrastructure of copper Unshielded Twisted Pair cabling, connector panels, jacks and fiber optic cabling, connector panels, racking and metals.