To all: what do you guys think of Anixter's (AXE) role in all this? See below.
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Antec Corp , TSX Corp to merge
ROLLING MEADOWS, Oct 28 (Reuter) - ANTEC Corp and TSX Corp said on Monday they have agreed to merge in a pooling of interest deal that is
expected to be tax-free for TSX Corp holders.
Under terms of the agreement, TSX sharehodlers will receive one share of ANTEC for each TSX share.
TeleCommunications Inc ( Tele-Communications Inc ), which owns about 40 percent of TSX's outstanding shares, and Anixter International Inc , which owns
about 31 percent of ANTEC, have agreed to vote for the merger, subject to certain conditions, ANTEC and TSX said.
Based on ANTEC's closing price Monday of 11-1/2, the deal is worth about $195.5 million to TSX shareholders, ANTEC said Monday. Shares of El Paso,
Texas-based TSX, which manufacturers CATV fiber optic and RF distribution electronics and electronic advertising insertion equipment, closed at 8-1/2.
Both companies' boards of directors have approved the transaction and, subject to shareholder approval and satisfaction of other conditions, the transaction should
be effective early in 1997, the companies said.
ANTEC specializes in the design and engineering of hybrid fiber/coax architectures used in broadband networks and the engineering, manufacturing, product
development and distribution of products for these networks.
"TSX Corp. will provide ANTEC with new products that extend ANTEC's capabilities to deliver all of the products and services that information service providers
need to build and operate broadband communications systems," said John Egan, ANTEC's president and CEO. |
