ADC Telecommunications Inc. agreed Wednesday to buy Andrew Corp. for about $2 billion in stock to create a leading communications network infrastructure provider for wireline and wireless customers.
The companies said in a statement that Andrew stockholders would receive 0.57 an ADC share for each issue they hold. Based on ADC’s Tuesday closing price of $22.38 a share, the offer is worth about $12.76 an Andrew share, reflecting a 30.4 percent premium to Andrew’s close on the same day.
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