Carlyle to buy CommScope for $3.9 bn

NEW YORK: US private-equity fund Carlyle Group on Wednesday announced it will buy communications networks company CommScope in an all-cash deal worth about 3.9 billion dollars.

Under the terms of the merger agreement, Carlyle will acquire all of the outstanding shares of CommScope common stock for 31.50 dollars per share in cash, representing a premium of 36 percent over CommScope's closing stock price last Friday, the companies said in a statement.

"Our board of directors unanimously approved this transaction with Carlyle, which has a strong reputation and global network, and a proven record of success in acquiring and guiding companies like CommScope," said Commscope chairman and chief executive Frank Drendel.

CommScope's shares rose nearly four percent following the acquisition announcement.

The deal requires the approval of CommScope's stockholders and regulatory authorities.

CommScope will be allowed to weigh superior proposals from third parties until December 5, according to the agreement.