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confirmed early Monday it is in discussions to be acquired by the Carlyle Group and be taken private for $31.50 a share in cash.

CommScope shares closed Friday at $23.12.

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In a statement, CommScope, the communications cable maker, said "no agreement has been reached and there can be no assurance that any transaction will result from these discussions." It added it doesn't plan to make any further comments "unless or until it is appropriate to do so. "

Allen & Co. is serving as financial adviser, and Gibson, Dunn & Crutcher LLP is serving as CommScope's legal adviser.

-- Written by Joseph Woelfel

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Joseph Woelfel

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