ADC Phones KRONE3/25/2004 4:53 AM Eastern
ADC Telecommunications Inc. will acquire KRONE Group from GenTek Inc. in a deal announced Thursday.
KRONE is a provider of copper- and fiber-optic-based cabling and connectivity systems.
The proposed deal is valued at approximately $350 million. ADC will pay some $291 million in cash and assume other defined liabilities.
The transaction is expected to close during ADC's fiscal third quarter, which ends July 31.