24/7 Market News Snapshot 18 Jul 2024 – CommScope Holding Company, Inc. (NASDAQ: COMM)

July 18, 2024 8:16

Press Release

DENVER, Colo., 18 July, 2024 (247marketnews.com) – (NASDAQ:COMM) are discussed in this article.
CommScope Holding Company, Inc. (COMM) is experiencing a bullish trend in the pre-market session, showcasing a current price of $2.672 and a notable closing price increase from the previous session. With a trading volume of 5.4M, the stock is drawing significant investor attention, highlighted by a substantial change percentage of 68.01 from the market open. This trend suggests a potential breakout for COMM, making it an appealing option for investors seeking to capitalize on the upward momentum.

In a strategic development, Amphenol Corporation (NYSE:APH) has announced a noteworthy acquisition agreement with CommScope Holding Company, Inc. (NASDAQ:COMM). The acquisition entails purchasing CommScope’s Outdoor Wireless Networks and Distributed Antenna Systems businesses for $2.1 billion in cash, subject to typical post-closing adjustments.

Amphenol’s acquisition of these businesses is set to enrich its product portfolio by integrating advanced antenna and interconnect products, technologies, and capabilities from CommScope. This move will bolster Amphenol’s existing offerings in next-generation wireless networks, solidifying its competitive stance in the market.

The transaction is anticipated to be accretive to Amphenol’s Diluted Earnings Per Share within the first complete year after closing, showcasing the financial advantages expected from this venture. The company’s President and CEO, R. Adam Norwitt, looks forward to incorporating CommScope’s mobile networks businesses into Amphenol, emphasizing the expertise and innovative technologies they bring in base station antennas, interconnect solutions, and distributed antenna systems, which will benefit customers globally.

The acquisition, slated for closure in the first half of 2025, will be financed through cash reserves and debt, subject to customary regulatory approvals and closing conditions. This strategic move underscores Amphenol’s commitment to advancing growth and innovation across various market segments. To learn more about Amphenol Corporation and its leading solutions, please visit www.amphenol.com. Stay informed for updates on this transformative acquisition as the companies progress with this pivotal transaction.

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