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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Thomas & Betts Corp. | NYSE:TNB | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 71.99 | 0.00 | 01:00:00 |
From Sep 2019 to Sep 2024
Power technology group ABB (ABB) is buying electrical equipment producer Thomas & Betts Corp. (TNB) for $3.9 billion in cash, both companies announced Monday.
ABB said in a joint statement it will pay $72 a share for Thomas & Betts. This is a 24% premium to its last-traded price on Jan. 27 and a 35% premium to is 60-day weighted average.
The purchase will result in "annual synergies" of $200 million, ABB said in the statement.
ABB added it has arranged for $4 billion in financing from Bank of America Merrill Lynch. The deal is expected to be completed by mid-2012.
1 Year Thomas Betts Chart |
1 Month Thomas Betts Chart |
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