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ABB, Zurich, Switzerland, announced that it would acquire Thomas & Betts Corp., Memphis, Tenn., in a deal worth $3.9 billion. An ABB press release said 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.
The release said the complementary combination of Thomas & Betts' electrical components and ABB's low-voltage protection, control and measurement products would create a broader low-voltage portfolio that can...