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Commscope Inc to Buy Andrew Corp.

Publication: M2 Presswire
Publication Date: 29-JUN-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-29 June 2007-ANALYSIS: Commscope Inc to Buy Andrew Corp.(C)1994-2007 M2 COMMUNICATIONS LTD

RDATE:29062007

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To expand its network business from wired to wireless, CommScope Inc. announced Wednesday 2007-06-27 that it is buying cable maker Andrew Corp. for about $2.6 billion.

The mostly cash deal will allow Hickory-based CommScope approach both sides of a growing industry that keeps people connected through phone, video and wireless devices, officials said.

Shares of Andrew jumped $1.42, or 11 percent, to $14.40 Wednesday.

"This will only help improve seamless connectivity -- to keep you connected all the time," Frank Drendel, CommScope's chairman and chief executive, told The Associated Press.

"For us, Andrew had the missing ingredient, he said. "We have the wired...

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