CommScope buys Andrew for $2.6B

CommScope has entered into a definitive agreement to acquire Andrew for an estimated $2.6 billion, in a 90 percent cash deal. Both companies' boards have already unanimously approved the deal. The deal sees CommScope buying all outstanding shares of Andrew for $15.00 per share, which will create a global leader in infrastructure solutions for telecom operators. The price represents a premium of about 13 percent of Andrew's average closing price during the past 30 days.

Based on 2006 figures, the combined company would have had approximately $3.8 billion in sales with 35 percent coming from wireless antenna technology and cable products, 29 percent in carrier and network solutions, 21 percent in enterprise products and 15 percent in broadband/cable television solutions.

For more on CommScope's acquisition of Andrew:
- read this press release