ABB Acquires Thomas & Betts Corporation for $3.7B

ABB Ltd acquired all outstanding shares of Thomas & Betts Corporation for $72 per share in cash on May 16, 2012, resulting in cash outflows of $3.7 billion. The HVAC Division was part of Thomas & Betts at the time of acquisition.

“On May 16, 2012, ABB acquired all outstanding shares of TNB for $72 per share in cash. The resulting cash outflows for ABB amounted to $3,700.0 million, representing $3,282.0 million for the purchase of the shares (net of cash acquired of $521.0 million), $94.0 million related to cash settlement of TNB options held at acquisition date and $324.0 million for the repayment of debt assumed upon acquisition.”

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