CommScope to go private with Carlyle Group buyout

CommScope (NYSE: CTV) made it official that it the Carlyle Group will buy the company for $3.9 billion, making the coax and fiber cable vendor a private company.

Under the terms of the deal, CommScope shareholders will receive $31.50 per share case, a 36 percent premium over the vendor's share price prior to the first announcement that the companies were talking about a deal. When the deal is complete in early 2011, CommScope's management, including current chairman and CEO Frank Drendel, is expected to stay with the company.

The company's board has already unanimously approved the deal and has suggested that its shareholders approve it during a special meeting of stockholders.

Of course, the agreement is far from a done deal as CommScope can still seek higher bids from other entities over the next 40 days.

For more:
- see the release

Related articles:
Carlyle Group working out $3 billion bid for CommScope
CommScope buys Andrew for $2.6B
New Dallas Cowboys stadium an IPTV showcase  

Suggested Articles

Equinix has expanded the global reach of Oracle Cloud Infrastructure across five continents to help enterprise customers connect to Oracle Cloud.

Deutsche Telekom is folding parts of a slimmed-down T-Systems back into its corporate structure, according to Reuters.

Huawei has been temporarily suspended from membership in the Forum of Incident Response and Security Teams (FIRST.)