ADC, Andrew End Merger Plan

ADC and Andrew mutually agree to terminate their pending merger

August 10, 2006

1 Min Read

MINNEAPOLIS -- ADC (NASDAQ:ADCT)(www.adc.com) today announced that ADC and Andrew Corporation (NASDAQ:ANDW) (www.andrew.com) have entered into an agreement to terminate their agreement and plan of merger, which the parties entered into as of May 30, 2006.

The companies believe that current market considerations raised significant questions about the ability to obtain necessary shareholder approval. Therefore, Andrew and ADC have agreed to terminate the merger agreement without liability to either party. To effect the mutual termination, Andrew has agreed to pay ADC $10 million. In addition, Andrew has agreed that ADC would be paid another $65 million in the event Andrew effects a business combination transaction within 12 months.

"While we believed in the strategic rationale of this combination and are disappointed that the merits of the transaction were unrecognized in the marketplace, we will continue to execute on our strategy to become the leading supplier of network infrastructure solutions to our customers worldwide," stated Robert E. Switz, president and CEO of ADC. "We will accomplish that goal through a combination of business development initiatives, new product development and execution in our core business. The fundamentals of our business remain solid, and we remain confident that we can deliver long-term growth and profitability."

ADC (Nasdaq: ADCT)

Andrew

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