CommScope Inc. has entered into a definitive merger agreement with global alternative asset manager The Carlyl...
October 27, 2010
CommScope Inc. has entered into a definitive merger agreement with global alternative asset manager The Carlyle Group in a transaction valued at approximately US$3.9 billion that will result in CommScope becoming a private company.
The transaction is expected to close in the first quarter of 2011.
Under the terms of the merger agreement, Carlyle will acquire all of the outstanding shares of CommScope common stock for US$31.50 per share in cash.
This represents a premium of approximately 36% over CommScope’s closing stock price on Friday, the last trading day prior to the company’s Oct. 25 release announcing a potential transaction between the two parties.
“We believe this transaction is in the best interest of CommScope and our stockholders,” said Frank Drendel, chairman of the board and CEO of CommScope.