CommScope acquires Andrew for $2.6B
The combined company will provide infrastructure solutions for the video, voice, data and mobility markets.
The $15-per-share purchase price represents a premium of approximately 13 percent over Andrew’s average closing share price for the last 30 trading days, and a 21 percent premium over the average closing share price for the last 60 trading days, the company said.
When the transaction closes, Andrew will become a wholly-owned subsidiary of CommScope. Frank Drendel, CommScope’s chairman and CEO, will remain in his position.
Both companies’ boards have approved the definitive agreement, which is expected to close by year’s end.