CommScope, Inc. (NYSE:CTV), in response to media reports, today confirmed that it is in discussions with The Carlyle Group regarding a potential transaction that would result in CommScope becoming a private company. Under the terms of the potential agreement, Carlyle would acquire all of the outstanding shares of CommScope common stock for $31.50 per share in cash.
CommScope noted that no agreement has been reached and there can be no assurance that any transaction will result from these discussions.
CommScope does not intend to make any further comment on this matter unless or until it is appropriate to do so.
Allen & Company LLC is serving as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal advisor to CommScope.
About CommScope
CommScope, Inc. (NYSE: CTV; www.commscope.com) provides essential infrastructure that makes communication possible. We empower people to connect and communicate seamlessly where, when, and how they choose. Our solutions and services for wired and wireless networks enable high-bandwidth data, video, and voice applications everywhere—at home, at work, and on the go. Through every wave of technology, CommScope helps the world connect and evolve. Backed by numerous respected brands such as Andrew®, SYSTIMAX® and Uniprise®, CommScope supports customers in more than 100 countries around the world through its focus on integrity, ethics, quality and technical innovation.
Forward Looking Statements
This press release includes forward-looking statements that are based on information currently available to management, management's beliefs, as well as on a number of assumptions concerning future events. Forward-looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, which could cause the actual results to differ materially from those currently expected. For a more detailed description of the factors that could cause such a difference, please see CommScope's filings with the Securities and Exchange Commission. In providing forward-looking statements, the company does not intend, and is not undertaking any obligation or duty, to update these statements as a result of new information, future events or otherwise.
Investors Contact:
CommScope
Philip Armstrong, +1-828-323-4848
Mark Huegerich, +1-828-431-2540
or
News Media Contact:
CommScope
Rick Aspan, +1-708-236-6568
publicrelations@commscope.com
or
Joele Frank, Wilkinson Brimmer Katcher
Matthew Sherman / James Golden, +1-212-355-4449