Amphenol Nears $10-Billion Deal To Buy CommScope's Broadband Connectivity And Cable Unit
Aug 3 (Reuters) - Connecticut-based Amphenol APH.N is nearing a deal to buy communication network infrastructure provider CommScope Holding's COMM.O connectivity and cable unit, in a deal valued at roughly $10 billion including debt, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
CommScope shares surged 17% on the news in overnight trading.
The transaction could be completed as soon as Monday, assuming no last-minute snags, the newspaper reported.
In May, Bloomberg News reported that North Carolina-based CommScope was exploring a sale of its broadband connectivity and cable solutions division, its largest unit by sales and operating income.
CommScope's wireless network provides infrastructure for mobile networks, while its antenna systems unit provides services for cellular infrastructure inside venues, campuses and enterprises.
Connecticut-based Amphenol struck a deal last year to buy CommScope's outdoor wireless network and its distributed antenna systems businesses for $2.1 billion in cash.
Reuters could not immediately verify the report. Amphenol and CommScope Holding did not immediately respond to Reuters' request for comment.
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