May 2, 2012
Zurich, Switzerland and Memphis, Tennessee, - ABB Ltd (NYSE: ABB), the leading power and automation technology group, and Thomas & Betts Corporation (NYSE: TNB), a North American leader in low voltage products, today announced that Thomas & Betts shareholders have voted to approve the merger agreement pursuant to ABB acquiring Thomas & Betts for $72 per share in cash.
Of the shares voted at today's special meeting 99% were voted in favor of the approval of the merger agreement, which represents approximately 75% of Thomas & Betts' total outstanding shares of common stock as of the recorded date for the meeting.
Approval of the merger agreement by Thomas & Betts shareholders satisfies one of the conditions to complete the acquisition of Thomas & Betts by ABB. The closing of the acquisition remains subject to clearance by the European Commission and the Canadian antitrust authorities and the other closing conditions set forth in the merger agreement. The transaction has already been cleared by the US and Turkish antitrust regulators. While a definitive closing date cannot yet be determined, ABB and Thomas & Betts continue to expect that the transaction will close in mid-2012.
maxon launches the next generation of positioning controllers - the EPOS4. A high performance module with detachable pin headers and two different power ratings. With a connector board, the modules can be combined into a ready-to-install compact solution. Suitable for efficient and dynamic control of brushed and brushless DC motors with Hall sensors and encoders up to 750 W continuous power and 1500 W peak power. The modular concept also provides for a wide variety of expansion options with Ethernet-based interfaces, such as EtherCAT or absolute rotary encoders.