ABB to acquire Thomas and Betts Corp

3 February 2012: The US manufacturer Thomas and Betts Corp has agreed to be acquired by Switzerland's ABB in a $3.9 billion (approx Rs.19,280 crore) cash transaction. ABB will pay $72 per share in cash for Thomas and Betts, a 24 percent premium over the stock's Friday's close price. Through the deal, ABB will gain access to Thomas & Betts network of more than 6,000 distributor locations and wholesalers in North America.

Source: Economic Times