XML 42 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Event
9 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
Subsequent Event

Note 23. Subsequent Event

 

Proposed Transaction with CommScope

 

On November 8, 2018, the Company entered into a Bid Conduct Agreement (the “Acquisition Agreement”) with CommScope Holding Company, Inc. (“CommScope”) providing for the acquisition of all of the ordinary shares of the Company by CommScope (the “Acquisition”). The Acquisition is to be implemented by way of a court-approved scheme of arrangement (the “Scheme”) under Part 26 of the United Kingdom Companies Act 2006. At the effective time of the Acquisition, each ordinary share of the Company automatically will be transferred to CommScope in exchange for the right to receive $31.75 per ordinary share in cash, without interest.

 

The completion of the Acquisition is subject to various closing conditions, including, among other things, (i) the receipt of certain approvals of the Company shareholders, (ii) the sanction of the Scheme by the High Court of Justice of England and Wales, (iii) the receipt of certain required regulatory approvals or elapse of certain review periods with respect thereto, including those in the U.S., the European Union, Chile, Mexico, Russia and South Africa, and (iv) the absence of any law, order or injunction prohibiting the Acquisition. For additional information regarding certain risks related to the Acquisition see the information under the caption “Risk Factors,” which is located in Item 1A of Part II of this Quarterly Report on Form 10-Q.