Deals
Electronics Maker Amphenol Buys CommScope Units for $2.1 Billion
Photographer: Bloomberg Creative Photos
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Amphenol Corp. has agreed to buy CommScope Holding Co.’s outdoor wireless networks and distributed antenna systems businesses in a $2.1 billion transaction.
CommScope’s shares jumped as much as 37% in New York trading Thursday and were up 9.9% at 1:07 p.m., giving the company a market value of $400 million. The company’s notes were also the biggest gainers in the high-yield market. Amphenol’s shares also rose as much as 3.6%, valuing it at about $78 billion.