CommScope Agrees to $3.9 Billion Carlyle Buyout
Under the terms of the deal, Carlyle will acquire all of the outstanding shares of CommScope common stock for $31.50 per share, cash, the companies said in a statement. That price represents a 36% premium versus the stock's closing price at the end of last week.
The deal is expected to close in the first quarter of 2011.
CommScope reported earnings of 49 cents per share for the quarter ended Sept. 30, compared with 45 cents per share a year earlier.
Sales rose to $821.9 million in the quarter, from $750.4 million a year earlier.
"While the global economy remains challenging, popular devices like smart phones and tablets have created the demand for a mobile Internet," Drendel said. "We remain excited about our long-term growth opportunities as CommScope's next generation of wireless, enterprise and broadband solutions help customers connect to critical data, entertainment and business services."