Feb. 6, 2012: ABB to Acquire Thomas & Betts for $3.9 Billion
ZURICH, Switzerland and MEMPHIS, Tenn. — ABB and Thomas & Betts Corp. announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion. The combination is expected to enhance ABB’s North American low-voltage products business. Thomas & Betts also offers HVAC products, new to ABB but related to its core power and automation focus.
The transaction is subject to approval by Thomas & Betts shareholders as well as regulatory approvals, and is expected to close by the middle of 2012.