Independent Proxy Advisory Firm, Glass Lewis, Recommends CommScope Stockholders Vote “FOR” Merger With The Carlyle Group
CommScope, Inc. (NYSE: CTV), a global leader in infrastructure solutions for communications networks, today announced that Glass Lewis & Co., a leading independent proxy advisory firm, recommends that CommScope stockholders vote “FOR” the company’s proposed merger with an affiliate of global alternative asset manager The Carlyle Group at the special meeting of stockholders, scheduled for December 30, 2010.
Both Glass Lewis and another leading independent proxy advisory firm, ISS, have recommended that CommScope stockholders vote for “FOR” the proposed transaction with Carlyle.
“We are pleased Glass Lewis has joined ISS in recommending that CommScope stockholders vote in favor of the proposed transaction with Carlyle,” said Frank Drendel, chairman of the board and chief executive officer, CommScope. “We continue to believe that this transaction is in the best interests of CommScope’s stockholders, customers and employees, and we urge all stockholders to vote ‘FOR’ the merger today.”
As previously announced, the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice granted early termination of the waiting period under Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the merger. The transaction remains subject to antitrust clearance in the People’s Republic of China and approval of CommScope stockholders, as well as other customary closing conditions, and is expected to close in the first quarter of 2011.CommScope noted that the 30-calendar day waiting period in the People’s Republic of China for review of the company’s specific Chinese antitrust filings has commenced and is expected to conclude in early January. Under the terms of the definitive merger agreement between CommScope and Carlyle, previously announced on October 27, 2010, funds affiliated with Carlyle will acquire all outstanding shares of CommScope common stock for $31.50 per share in cash. A special meeting of CommScope stockholders to consider and vote upon the proposed transaction will be held at 2 p.m. EST on December 30, 2010, at the offices of Robinson, Bradshaw & Hinson, P.A., 101 North Tryon Street, Suite 1900, Charlotte, North Carolina. CommScope stockholders of record as of the close of business on December 3, 2010, are entitled to vote at the special meeting.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV