ABB to Acquire Thomas & Betts for $3.9 Billion

ABB and Thomas & Betts Corp. announced a definitive agreement for ABB to acquire Thomas & Betts for $72 per share in cash, valuing the deal at approximately $3.9 billion. The acquisition aims to enhance ABB's North American low-voltage products business and includes Thomas & Betts' HVAC products under the Reznor and Gaz Industrie brands. The transaction is expected to close by mid-2012, subject to shareholder and regulatory approvals.

“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.”

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