Amphenol to acquire CCS business from CommScope for $10.5B in cash

Amphenol (APH) announced a definitive agreement to acquire CommScope’s (COMM) Connectivity and Cable Solutions business for $10.5B in cash, subject to customary post-closing adjustments. Assuming a continuation of current economic conditions, the CCS business is expected to have sales and EBITDA margins of approximately $3.6B and 26% in calendar 2025, respectively. The acquisition is expected to be accretive to Amphenol’s diluted earnings per share in the first full year after closing, excluding acquisition-related costs. Amphenol intends to finance the acquisition through a combination of cash on hand and debt, and has obtained committed financing from J.P. Morgan Securities LLC, BNP Paribas and Mizuho Bank, to fund the transaction. Subject to the receipt of customary regulatory approvals and the satisfaction of other closing conditions, the transaction is expected to close in the first half of 2026. The transaction is expected to be accretive to Amphenol’s Diluted EPS in first full year after closing.