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GENERAL INSTRUMENT FILES 22 MILLION SHARE INITIAL PUBLIC OFFERING

GENERAL INSTRUMENT FILES 22 MILLION SHARE INITIAL PUBLIC OFFERING
    Chicago, April 6 /PRNewswire/ -- General Instrument Corporation announced today that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering of 22 million shares of common stock.  All of the shares will be offered by the company.
    General Instrument is currently owned by a group of investors led by Forstmann Little & Co. and members of management.
    The offering price is expected to be between $16 and $19 per share. Goldman Sachs & Co. and Merrill Lynch & Co. will manage the underwriting group.
    The net proceeds of the offering will be used to reduce bank borrowings.
    General Instrument Corporation is a leading supplier of systems and equipment to the cable and satellite television industry, as well as a leading manufacturer of discrete power rectifying components.
    A registration statement relating to the common stock has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior the registration or qualification under the securities laws of any such state.
    -0-                        4/6/92
    /CONTACT:  George Sard and Tom Sanford of Ogilvy Adams & Rinehart, 212-557-0100/ CO:  General Instrument Corporation ST:  Illinois IN:  TLS SU:  OFR SM -- NY092 -- 5603 04/06/92 18:02 EDT
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Publication:PR Newswire
Date:Apr 6, 1992
Words:271
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