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A deal would give CommScope more scale with a more diversified product base, while it would provide an exit for Arris as fewer customers watch traditional TV from set-top boxes, a major part of its business.
The all-cash transaction could be announced as soon as tomorrow, the people said, who asked not to be named because the discussions are private. A deal hasn't been signed and could still fall apart, the people said.
A transaction would more than double the size of CommScope, whose market capitalization is $4.8 billion. CommScope plans to finance the deal, the people said. Arris has a market value of about $4.5 billion, and at $31 per share, Arris would have an equity valuation of $5.6 billion, plus about $1.6 billion in net debt.
CommScope makes telecommunications equipment, including cables, splitters and antennas, and will gain a cable TV set-top box maker in Arris, which nearly doubled in size in 2016 after buying rival Pace for $2.1 billion. Set-top boxes make up about 35 percent of Arris's total revenue. The company also makes other telecom networking equipment for wireless and cable operators.
Reuters initially reported the companies were in talks last month.
Spokesmen for Arris and CommScope declined to comment.