Swiss industrial technology company ABB announced Monday that it will pay $3.9 billion to take over U.S. electrical components maker Thomas & Betts.
Terms of the deal call for Zurich-based ABB to pay $72 a share in cash for Thomas & Betts, a 24 percent premium over the Memphis-based target company’s Friday closing price, the companies said. The transaction is expected to close in mid-2012, pending regulatory approval in the United States and Europe.
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