Carlyle Group is Planning to Acquire CommScop
On early Monday in response to media reports, CommScope officials confirmed that the Company is in talks with private equity firm The Carlyle Group, which is planning to acquire CommScope.
CommScope said that as per the potential agreement, Carlyle would attain all of the outstanding shares of CommScope common stock for $31.50 a share in cash.
On Friday on the New York Stock Exchange, the shares of CommScope closed at $23.12.
CommScope issued a statement revealing that the negotiations are still on and nothing has so far been finalized. The Company further stated that there is even a possibility that the discussions would not lead to any fruitful transaction.
The Company also added that it refuses to comment further till some concrete results are at hand.
The legal adviser for CommScope on this transaction process is Gibson, Dunn & Crutcher LLP and Allen & Co. is providing advice on financial matter.
The Company said that if the acquisition process becomes successful then the CommScope, which is a communications cable maker, would become a private organization.