CommScope has completed its $2.65B acquisition of Andrew, which will become a wholly-owned subsidiary

December 27, 2007

2 Min Read

HICKORY, N.C. -- CommScope, Inc. (NYSE: CTV - News) today announced that it has completed its acquisition of Andrew Corporation (Nasdaq: ANDW - News) for a total purchase price of approximately $2.65 billion. As of today, Andrew will become a wholly-owned subsidiary of CommScope.

"We are delighted with the closing of the Andrew transaction, which marks a new chapter in the history of our company," said Frank M. Drendel, chairman and chief executive officer of CommScope. "We believe this combination will further enhance CommScope's position as a worldwide leader in 'last mile' solutions. Combining our innovative technologies, premier brands and a top- tier customer base, we expect to expand our global service model and create an enhanced offering of communications infrastructure solutions that addresses a broader spectrum of customer needs. With this acquisition, we are advancing CommScope's stated global 'last mile' strategy while creating important cost reduction and growth opportunities that we believe will drive increased shareholder value.

"We look forward to working with Andrew's talented team to quickly and smoothly integrate their operations into CommScope. As we continue to invest in the combined business for profitable growth, the talented and dedicated employees of both Andrew and CommScope will continue to play a critical role in the success of the combined company. CommScope is a proven and successful integrator of strategic transactions and we expect to begin realizing the benefits of this combination immediately and enjoy them fully over the next few years," added Mr. Drendel.

Andrew stockholders will receive, for each Andrew share, $13.50 in cash and 0.031543 shares of CommScope common stock. This fractional share of CommScope common stock was calculated according to the terms of the merger agreement by dividing $1.50 by $47.554, which was the volume weighted average of the closing sale prices for a share of CommScope common stock over the ten consecutive trading days ending on December 24, 2007.

CommScope Inc.

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