Shares of Arris International PLC (ARRS) soared Thursday, Nov. 8, on news that the set-top box manufacturer would be acquired by telecom equipment maker CommScope Holding Co. (COMM) in an all-cash deal valued at about $7.4 billion.
The offer price was $31.75 a share.
Arris International was up 10.9% to $30.81. CommScope declined nearly 17%.
Private-equity firm Carlyle Group, which took CommScope public in 2013, has re-established an ownership position in CommScope through a $1 billion minority equity investment as part of CommScope's financing of the transaction, CommScope said in a statement.
The deal is expected to close in the first half of 2019.