Plus   Neg

Arris International Shares Up 16% On Report Of Acquisition By CommScope

Shares of Arris International PLC (ARRS) gained 16% in extended trading session on Tuesday following reports of the company's acquisition.

According to CNBC, telecoms infrastructure company CommScope is nearing a deal to buy telecom gear provider Arris for more than $31 a share or more than $5.6 billion.

Commscope could announce the deal to acquire the set-top box manufacturer as soon as tomorrow.

The report says that the deal is expected to give CommScope more scale with a more diversified product base, while it would provide an exit for Arris as fewer customers watch traditional TV from set-top boxes, a major part of its business.

ARRS closed Tuesday's trading at $24.97, up $0.17 or 0.69%, on the Nasdaq. The stock further gained $3.95 or 15.82% in the after-hours trade.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lawyers for the state of Oklahoma urged a judge on Monday to hold Johnson & Johnson (JNJ) responsible for the country's opioid epidemic. Oklahoma Attorney General Mike Hunter, in his closing arguments of the eight-week trial in Cleveland County, called the pharmaceutical company the "Kingpin" behind... Pizza chain Blaze Pizza has announced plans to offer a keto-diet-approved pizza crust, which will only have 6 grams of carbs. The pizza chain will swap flour for ingredients like flaxseeds, eggs, and cheese to offer the first-ever official keto-diet approved pizza. "As the first national chain... Even as Amazon.com Inc. kicked off its Prime Day annual shopping event on Monday, employees are expressing their dissatisfaction with the company. This year's Prime Day, Amazon's biggest celebration of deals, kick-started officially on Monday with more than one million offers for Prime Members in select countries around the world. The 48-hour extravaganza is the longest Prime Day ever.