ABB to acquire Thomas & Betts Corporation sending Shares 23 Percent Higher

Going up Chart - BSN

(Best Syndication News) - Thomas & Betts Corporation (NYSE: TNB) will be acquired by ABB(NYSE: ABB) for $72 per share which equates to a $3.9 billion transaction. The closing price for the Thomas & Betts this Monday, January 30th, was $71.31 per share, up $13.36 (+23.05%).

The acquisition must first be approved by shareholders and by regulators. If all goes according to plan, the transaction should be completed in the summer of 2012.

Thomas & Betts has an estimated 2011 revenue of $2.3 billion with earnings of $390 million before interest, taxes, and depreciation and amortization. The company manufactures low-voltage and ultralow-voltage electrical products that include connectors, conduits, fittings, and wiring products for construction, industrial and utility industries. The company has around 9,400 employees.

ABB has a worldwide presence in 100 countries and has around 130,000 people working for their company. The US headquarters are in Cary, North Carolina, where over 18,000 employees work for the company. ABB's US division reported around $5 billion in revenue from January through September of 2011. ABB is a leader in power and automation technologies.

ABB plans to have Thomas & Betts as a stand-alone unit so that they can grow their North American low-voltage products market, explained Tarak Mehta, Executive Committee of ABB’s Low Voltage Products division. The Thomas & Betts brand will continue to be used to market to their customers.

ABB’s closing share price today was $20.55, down 69 cents (-3.25%).

By: Dave Reddy

Monday, January 30, 2012 Thomas and Betts ABB
Today's Closing Price $71.31 $20.55
Today's Point Change 13.36 -0.69
Today's Change (%) 23.05% -3.25%
Today's Open 71.24 20.63
Today's High 71.36 20.70
Today's Low 70.95 20.44
Today's Range $0.41 $0.26
50 Day Moving Average $54.30 $19.00
100-Day Moving Average $49.71 $18.71
100 Day Low $37.95 $16.42
100 Day High $71.31 $22.04
Average 100 Day Range $1.40 $0.46
Today’s Range vs Average (%) -70.62% -43.34%
Today's Volume 17,573,042 5,924,451
Average 100 Day Volume 526,033 2,777,447
Today’s Volume vs Average (%) 3240.67% 113.31%
100 Day Point Change 28.68 2.46
100 Day % Change 67.28% 13.60%
Support Level 3 - Today 70.40 20.06
Support Level 2 - S2 Today 70.81 20.32
Support Level 1 - S1 Today 71.07 20.46
Pivot Point From Today 71.22 20.58
Resistance Level 1 - R1 Today 71.48 20.72
Resistance Level 2 - R2 Today 71.63 20.84
Resistance Level 3 - R3 Today 72.04 21.10
Support Level 3 - S3 Yesterday 55.48 20.73
Support Level 2 - S2 Yesterday 56.57 20.96
Support Level 1 - S1 Yesterday 57.12 21.08
Pivot Point From Yesterday 57.66 21.19
Resistance Level 1 - R1 Yesterday 58.21 21.31
Resistance Level 2 - R2 Yesterday 58.75 21.42
Resistance Level 3 - R3 Yesterday 59.84 21.65

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