A Hickory, N.C.-based company that makes telecommunications equipment is in talks to be bought by a private equity firm for about $3 billion.
CommScope this morning confirmed that officials are in discussions with Washington-based Carlyle Group to sell the publicly traded company for $31.50 per share in cash.
CommScope has hired investment bank Allen & Co. as a financial adviser, but said it wouldn't comment further on a possible deal.
The company's shares closed Friday at $23.12, and were down more than 19 percent in the past year. On Monday, the shares jumped $7.04 to $30.16.