Date Closed

May 17, 2012

Lead Office

Toronto

Value

3.90 Billion USD

On May 17, 2012, ABB Ltd. completed its previously announced acquisition of Thomas & Betts. The acquisition of Thomas & Betts advances ABB's strategy of expanding its Low Voltage Products division into new geographies, sectors and products. The complementary combination of Thomas & Betts' electrical components and ABB's low voltage protection, control and measurement products will create a broader low voltage offering.

In North America, the combination will double ABB's addressable market to approximately US$24 billion. Thomas & Betts' has a North-American network of more than 6,000 distributor locations and wholesalers which will provide greater access for ABB low voltage products. In Europe and Asia, distribution capabilities and coverage will be expanded through ABB's well established channels.

ABB Ltd, headquartered in Zurich, Switzerland is a technology-based provider of power and automation products, systems, solutions, and services.

Thomas & Betts Corporation, headquartered in Memphis, Tennessee, is a designer and manufacturer of connectors and components for electrical and communication markets.

McCarthy Tétrault LLP represented ABB, the acquiror, with a team led by W. Palm.