ADC To Buy Andrew Corp.

ADC Telecommunications Inc. (ADCT) reported second quarter earnings that slipped to 19 cents per share from 28 cents per share in the year ago period. Separately, the broadband equipment maker offered $2 billion to purchase communications equipment maker Andrew Corp. (ANDW). Shares of ADC plunged $4.46 to close at $17.92 while Andrew stock rose 34 cents to close at $10.12.