CommScope (NYSE: CTV), for years has positioned itself as the cable in cable TV, could be a private company soon if a deal with The Carlyle Group goes down as planned. The North Carolina firm, which creates both fiber optics and coaxial cable, is expected to be swallowed whole for about $3 billion or $31.50 per share.
While speculation about the deal was rampant and, in some quarters, seen as a fait accompli, CommScope itself took a more cautious approach, noting in a company statement that "no agreement has been reached and there can be no assurance that any transaction will result from these discussions."
CommScope and its CEO/Chairman Frank Drendel are well known within the cable space; The Carlyle Group is a relative newcomer. According to the investment firm's Web page, "Carlyle focuses on sectors in which it has demonstrated expertise: aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services and telecommunications & media." CommScope fits in there somewhere, obviously.
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