CommScope in talks with Carlyle on $2.98B buyout

[October 25, 2010]  HICKORY, N.C. (AP) -- CommScope Inc. is talking to asset management firm Carlyle Group about being taken private for approximately $2.98 billion.

The network infrastructure company said Monday that Carlyle Group would pay $31.50 per share in cash, a 36 percent premium over its closing price Friday. CommScope currently has 94.7 million outstanding shares, according to Thomson Reuters.

CommScope says it has yet to reach a deal and will not make further comments until it's deemed appropriate.

Carlyle invests in a wide range of industries, with about 8 percent of its holdings in consumer and retail companies. It closed on its $3.8 billion buyout of vitamin maker NBTY earlier this month.

[Associated Press]

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