Commscope buying Andrew for US$2.6 billion

HICKORY, N.C., and WESTCHESTER, Ill. – Cable manufacturer CommScope Inc. said today that it will buy fellow manufacturer Andrew Corp. to create a global communications infrastructure powerhouse. The boards of both companies have approved the $2.6 billion sale which values Andrew (which has more than twice the number of employees than Commscope) at $15 per share, at least 90% of which will be paid in cash, and is a 16% premium over the share price closing on Tuesday. The move will create "a global leader in infrastructure solutions for communications networks," touts the press release, "including structured cabling solutions for...