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Proviso Probe

Tuesday, August 08, 2006

BUSINESS, second suitor emerges for Westchester cable manufacturer [W]

Crain’s:
The bidding war for Andrew Corp. is likely to heat up following today’s surprise bid by CommScope Inc. to pay $1.7 billion for the Westchester-based cable-maker in an all-cash deal.

Before CommScope unexpectedly entered the picture, Andrew had appeared well on its way to merging with Minneapolis-based ADC Telecommunications Inc., a deal that had already passed muster with antitrust regulators and was expected to close this fall.


[Update: Washington Post (Reuters):
NEW YORK (Reuters) - Communications cable maker Andrew Corp. was on Thursday left without a merger partner after mutually terminating a proposed tie-up with ADC Telecommunications Inc. and rejecting a $1.5 billion offer from CommScope Inc. .

A spokesman for Westchester, Illinois-based Andrew told Reuters on Thursday that the company was "not for sale" and would operate as an independent firm -- although he did not rule out deals in the future.

end update.]

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