Today in manufacturing news we feature a major story from teh Cable & Wire Industry. CommScope will acquire the Andrew Corporation and thus create a global giant in the infrastructure solutions for communications networks market. For full press article please read on:
CommScope to acquire Andrew Corp. for US$2.6 billion
CommScope, Inc. and Andrew Corporation today announced that the companies have entered into a definitive agreement, unanimously approved by their respective Boards of Directors, under which CommScope will acquire all of the outstanding shares of Andrew for $15.00 per share, at least 90 percent in cash, creating a global leader in infrastructure solutions for communications networks. The transaction, is valued at approximately $2.6 billion. The combined company will be a global leader in infrastructure solutions for communications networks, including structured cabling solutions for the business enterprise; broadband cable and apparatus for cable television applications; and antenna and cable products, base station subsystems, coverage and capacity systems, and network solutions for wireless applications. “We are pleased to have reached this agreement with Andrew, which we believe is extremely beneficial to the shareholders of both companies,” said Frank M. Drendel, Chairman and Chief Executive Officer of CommScope. CommScope, Inc. is a global leader in structured cabling systems for business enterprise applications. It is also the world’s largest manufacturer of coaxial cable for Hybrid Fiber Coaxial applications.
