ABB Ltd acquired Thomas & Betts Corporation for approximately $3.9 billion ($72.00 per share in cash), a transaction completed in May 2012, structured as all cash.
Thomas & Betts Corporation operates in Electrification / low-voltage electrical products, is based in Memphis, Tennessee, United States. Thomas & Betts is a Memphis-based maker of low-voltage electrical components sold through a large North American network of distributors and wholesalers. ABB agreed to pay $72.00 per share in cash, about $3.9 billion, a 24 percent premium to the prior close. The deal roughly doubled ABB's addressable North American low-voltage products market and made the US ABB's single largest market.
Thomas & Betts gave ABB direct access to more than 6,000 North American distributor locations and roughly doubled its addressable low-voltage products market, with about $200 million of expected annual synergies by 2016.
about $200 million in expected annual synergies by 2016
Advisory firms were not disclosed for this transaction.