HLIT - Harmonic gains on takeover speculation after agreement with holder

Harmonic Inc. (HLIT) rose 4.2% after takeover speculation following a cooperation agreement with holder Scopia Capital Management.Under the agreement, Scopia has the right to appoint two directors to Harmonic's board of directors during the next year.Harmonic could now look to potentially sell its video segment so it can focus on cable, Dealreporter speculated in an item. The report also speculated that there could be interest for entire company.The article opines that CommScope's (COMM) set-to-be-spun home networks business would be a good combination with Harmonic assets.Earlier, CommScope climbs after Deutsche upgrade on spinoff, network tailwinds.

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Harmonic gains on takeover speculation after agreement with holder