ADC Telecommunications completes $169M acquisition of LGC Wireless
www..finanznachrichten.de 2007-12-4
ADC Telecommunications Inc. Monday said it completed the $169 million acquisition of LGC Wireless, a provider of wireless coverage.
Under the terms of the acquisition, ADC paid cash for all outstanding shares of LGC, and assumed LGC's current debt of $20.5 million.
While ADC expects to take a charge of an undetermined amount from expenses related to the acquisition, it doesn't expect the acquisition to hurt 2008 earnings from continuing operations. For fiscal 2009, ADC said it expects the acquisition to add 2 cents to 4 cents a share to earnings.
ADC is a wireless enterprise network based in Minneapolis. Its stock fell 15 cents to $16.41.
(editor: jane)
