Thomas & Betts Shareholders approve acquisition by ABB

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.

Featured Product

Zaber's X-LRQ-DE Series:  High Precision Stages with Built-in Controllers and Linear Encoders

Zaber's X-LRQ-DE Series: High Precision Stages with Built-in Controllers and Linear Encoders

Zaber's X-LRQ-DE Series of linear stages have high stiffness, load, and lifetime capabilities in a compact size. The integrated linear encoder combined with stage calibration provides high accuracy positioning over the full travel of the device. At 36 mm high, these stages are excellent for applications where a low profile is required. The X-LRQ-DE's innovative design allows speeds up to 205 mm/s and loads up to 100 kg. Like all Zaber products, the X-LRQ-DE Series is designed for easy set-up and operation.