CommScope, Inc., a global leader in infrastructure solutions for
communications networks, has been informed that the Federal Trade
Commission and the Antitrust Division of the U.S. Department of Justice
have granted early termination of the waiting period under
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in
connection with the previously announced definitive merger agreement
between CommScope and global alternative asset manager The Carlyle Group.
Under terms of the merger agreement announced October 27, funds
affiliated with The Carlyle Group will acquire all outstanding shares of
CommScope common stock for $31.50 per share in cash. The transaction
remains subject to antitrust clearance in certain foreign jurisdictions
and approval of CommScope stockholders, as well as other customary
closing conditions, and is expected to close in the first quarter of
2011.
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.
About The Carlyle Group
The Carlyle Group is a global alternative asset manager with $90.9
billion of assets under management committed to 66 funds as of June 30,
2010. Carlyle invests across three asset classes – private equity, real
estate and credit alternatives – in Africa, Asia, Australia, Europe,
North America and South America focusing on aerospace & defense,
automotive & transportation, consumer & retail, energy & power,
financial services, healthcare, industrial, infrastructure, technology &
business services and telecommunications & media. Since 1987, the firm
has invested $61.2 billion of equity in 983 transactions. The Carlyle
Group employs more than 880 people in 19 countries. In the aggregate,
Carlyle portfolio companies have more than $84 billion in revenue and
employ more than 398,000 people around the world. More information is
available at www.carlyle.com,
www.carlylegroupcreatesvalue.com,
and www.youtube.com/OneCarlyle.
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.
Additional Information and Where to Find It
In connection with the proposed merger, CommScope, Inc. (the “Company”)
will prepare a proxy statement to be filed with the SEC. When completed,
a definitive proxy statement and a form of proxy will be mailed to the
stockholders of the Company. THE COMPANY’S SECURITY HOLDERS ARE URGED TO
READ THE PROXY STATEMENT REGARDING THE PROPOSED MERGER BECAUSE IT WILL
CONTAIN IMPORTANT INFORMATION. The Company’s stockholders will be able
to obtain, without charge, a copy of the proxy statement (when
available) and other relevant documents filed with the SEC from the
SEC’s website at http://www.sec.gov.
The Company’s stockholders will also be able to obtain, without charge,
a copy of the proxy statement and other relevant documents (when
available) by directing a request by mail or telephone to CommScope,
Inc., Attn: Secretary, 1100 CommScope Place SE, Hickory, North Carolina
28602, telephone: (828) 324-2200, or from the Company’s website, http://www.commscope.com.
The Company and its directors and officers may be deemed to be
participants in the solicitation of proxies from the Company’s
stockholders with respect to the proposed merger. Information about the
Company’s directors and executive officers and their ownership of the
Company’s common stock is set forth in the proxy statement for the
Company’s 2010 Annual Meeting of Stockholders, which was filed with the
SEC on March 19, 2010. Stockholders may obtain additional information
regarding the interests of the Company and its directors and executive
officers in the proposed merger, which may be different than those of
the Company’s stockholders generally, by reading the proxy statement and
other relevant documents regarding the proposed merger, when filed with
the SEC.
