Product category:
Antennas and Feeders
News Release from: Andrew Corp
Edited by the Electronicstalk Editorial
Team on 11 August 2006
Board rebuffs acquisition attempt
The board of directors of Andrew Corporation has voted unanimously to reject an unsolicited proposal from CommScope to acquire Andrew for $9.50 per share in cash.
The board of directors of Andrew Corporation, a global leader in communications systems and products, has voted unanimously to reject the unsolicited proposal from CommScope, to acquire Andrew for $9.50 per share in cash After a thorough review, the board, in consultation with its advisors, concluded that CommScope's proposal is wholly inadequate and not in the best interests of its shareholders
This article was originally published on Electronicstalk on 25 Feb 2004 at 8.00am (UK)
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"The board carefully reviewed and considered CommScope's proposal and found it does not adequately reflect the value of Andrew, its business prospects, and its industry-leading products, global customer base, and skilled global workforce", said Ralph Faison, President and Chief Executive Officer, Andrew Corporation.
"Andrew's industry-leading product portfolio and globally diversified customer base provide the company with a unique ability to meet the long-term global demand trends for wireless infrastructure".
"Andrew remains in a strong position to offer industry-leading support to operators, OEMs, and other communications providers around the world".
"As evidenced by our record sales and orders in our fiscal third quarter, we are growing share and improving operations through innovative products and the hard work of our global team".
"Our management team and employees are committed to delivering results and capitalising on business opportunities that will drive future operational and financial improvements".
"We are confident in the outlook for our future".
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