ABB To Acquire T&B
Monday, January 30, 2012 at 6:56AM ABB announces major acquisition--Thomas & Betts. Its aim is a major presence in North America. Combined with the acquisition of Baldor and the renewed emphasis on discrete automation that executives discussed with me during SPS in Nuremberg--watch out Rockwell Automation in the US and Siemens Industry worldwide.
From the press release:
ABB and Thomas & Betts announce agreement pursuant to which ABB will acquire Thomas &
Betts for $72 per share in cash
ABB gains access to Thomas & Betts network of more than 6,000 distributor locations and
wholesalers in North America
Transaction doubles ABB’s addressable low-voltage products market to approximately $24 billion
in North America and enables distribution of Thomas & Betts products through ABB’s extensive
global network
Furthers ABB’s 2015 strategy to expand its geographic and product scope in one of its most
profitable businesses
Approximately $200 million in expected annual synergies by 2016
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