US Stock Market Move | COMP (COMM.US) soars more than 68% as Anfeno will acquire its broadband connectivity business for $10.5 billion.

On Monday, COMMSCOPE surged over 68%, closing at $13.11. In terms of news, Amphenol confirmed on Monday that it had reached an agreement with COMMSCOPE to acquire its Connectivity and Cable Solutions (CCS) business, with a transaction value of $10.5 billion. Amphenol stated that this acquisition will expand its portfolio of fiber optic products and other interconnect solutions, and strengthen its interconnect product capabilities in the information technology data communications market, especially through the provision of artificial intelligence fiber optic products and data center applications.