CommScope In Talks To Be Acquired By Carlyle Group For $31.50 A Share

(Reuters) – CommScope Inc (CTV.N: Quote, Profile, Research, Stock Buzz) said it is in talks with private equity firm The Carlyle Group [CYL.UL] regarding a potential acquisition that would result in the communications cable maker 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 said.

Shares of CommScope closed at $23.12 Friday on the New York Stock Exchange.

However, CommScope said that no agreement has been reached and there can be no assurance that any transaction will result from these discussions.

Allen & Company LLC is serving as financial advisor, while Gibson, Dunn & Crutcher LLP is serving as legal advisor to CommScope.

CommScope said it does not intend to make any further comment on this matter unless or until it is appropriate to do so.

(Reporting by Sakthi Prasad in Bangalore; Editing by Louise Heavens)