ARRS

ARRIS International PLC

TMT, Event Driven/Special Sit


Presented:12/19/2018
Price:$30.07
Cap:$5.23B
Current Price:no data
Cap:no data

Presented

Date12/19/2018
Price$30.07
Market Cap$5.23B
Ent Value$6.29B
P/E Ratio66.45x
Book Value$16.90
Div Yield0%
Shares O/S173.86M
Ave Daily Vol4,764,860
Short Int7.37%

Current

Priceno data
Market Capno data
ARRIS International Plc engages in entertainment, communications, and networking technology. It combines hardware, software and services across the cloud, network, and home to power television and Internet. The company operates through the following segments: Customer Premises Equipment; Network and Cloud; Enterprise Networks; and Others. The Customer Premises Equipment segment offers broadband CPE which include DSL and cable modem, and broadband gateway; and video CPE. The Network and Cloud segment gives networks, software, and global service. The Enterprise Network segment composes of campus network switches, wi-fi access points, smart wireless services and software, and system management and control. The company was founded on April 20, 2015 and is headquartered in Suwanee, GA.

Publicly traded companies mentioned herein: ARRIS International PLC (ARRS), CommScope Holding Company Inc (COMM)

Highlights

With shares of ARRIS International (ARRS) trading around $30, the presenter sees an attractive risk/reward setup for a short position. CommScope, with the backing of Carlyle, is set to buy ARRS in an all-cash transaction for $31.75, or ~$7.4B, and the deal is expected to close in the first half of 2019. With just $1.75 of upside risk to the position, and downside to the mid- to low-$20s if the deal breaks (the stock was at ~$24 just before the 11/8/18 announcement).

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Idea Discussion

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