EU Approves ABB Acquisition Of Thomas & Betts
12 May 2012 - 1:50AM
Dow Jones News
The European Commission Friday approved Swiss power group ABB
Ltd.'s (ABBN.VX) proposed acquisition of Thomas & Betts Corp.
(TNB), the U.S. low-voltage products company.
"The commission's investigation confirmed that the overlaps
between the parties' activities are limited and that the merged
entity would continue to face competition," the European Commission
said in a press release.
In January, the Zurich-based power and technology group agreed
to buy Thomas & Betts for $3.9 billion.
-By Clare Connaghan, Dow Jones Newswires; +32 (0) 2741 1489,
clare.connaghan@dowjones.com
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