ABB To Acquire Thomas & Betts For $3.9B

ABB Ltd ABB announced its plans to acquire Thomas & Betts Corp TNB for $72 per share in cash or around $3.9 billion. The offer price represents a 24% premium to closing price of TNB's closing stock price on January 27, 2012. The deal is likely to close by the middle of 2012. TNB shares gained 0.43% to close at $57.95 on Friday, while ABB shares fell 0.28% to close at $21.24 on Friday.