Andrew, CommScope set final merger terms
Wednesday, 26 December 2007
NEW YORK, Dec 25 (Reuters): Communications equipment makers Andrew Corporation and CommScope Inc. announced Monday the final terms of their merger, which they said was due to close on December 27.
Andrew shareholders will receive, for every share, US$13.50 in cash and $1.50 in CommScope common stock, the companies said.
The companies had announced in late June that CommScope will acquire all of the outstanding shares of Andrew for $15 per share, at least 90 per cent in cash, in a deal valued at around $2.60 billion.
The companies have said the merger would help trim costs for making coaxial cable and strengthen their distribution strategy.
Andrew shareholders will receive, for every share, US$13.50 in cash and $1.50 in CommScope common stock, the companies said.
The companies had announced in late June that CommScope will acquire all of the outstanding shares of Andrew for $15 per share, at least 90 per cent in cash, in a deal valued at around $2.60 billion.
The companies have said the merger would help trim costs for making coaxial cable and strengthen their distribution strategy.