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July 2, 1990

GENERAL INSTRUMENT TO BE BOUGHT BY FORSTMAN LITTLE FOR $1,600M

By CBR Staff Writer

Cable Television and Local Area Networking Equipment Company General Instrument Corp reached definitive agreement to be acquired by private New York investment firm Forstmann Little & Co for $44.50 A share and the assumption of debt, or a total of $1,600M. A tender offer, Conditional on acceptance by a majority of the shares on the fully-diluted basis, starts this week, and General Instrument will be recommending acceptance.

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