Kirkland Guides ABB In $3.9B Thomas & Betts Buy

Law360, New York (January 30, 2012, 12:58 PM EST) -- Swiss engineering giant ABB Ltd. will buy Thomas & Betts Corp. for $3.9 billion to expand its presence in the North American market for low-voltage products, the company said Monday.

ABB will acquire the U.S. electrical components manufacturer for $72 per share — a 27 percent premium over Thomas & Betts' closing price on Friday. The companies expect to close the all-cash deal by the middle of the year.

"Strategically, it's a great fit," said Joe Hogan, ABB's CEO. "This is another big step toward expanding...
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