Electrical Business

News
Tyco Electronics to acquire ADC


July 13, 2010
By Anthony Capkun

July 13, 2010

Tyco Electronics and ADC announced a definitive agreement under which Tyco will acquire ADC for $12.75 per share in cash, or an enterprise value of about $1.25 billion.

“This is a very exciting time for our company, and ADC is a great fit as
we continue to execute our strategy to create strong leadership
positions in all of our connectivity businesses,” said Tom Lynch, Tyco
CEO. “The combination of ADC and Tyco Electronics creates an industry
leader, with the scope and geographic scale to help customers deliver
needed capacity, from the core of the network all the way to the end
user.”

Meantime, Robert E. Switz, ADC’s chair, president and CEO, said, “As
part of Tyco Electronics, our organization’s ability to serve the
world’s leading telecommunications services providers and enterprises
will be strengthened significantly. I have great respect for Tyco
Electronics and know that they share our commitment to meeting
customers’ changing next generation network needs.”

The combined organization, say the companies, will offer a complete
product portfolio across every major geographic market. It will also add
ADC’s Distributed Antenna System (DAS) products, which will expand
Tyco’s wireless connectivity portfolio to provide greater mobile
coverage and capacity solutions to carrier and enterprise customers as
demand for mobile data continues to expand.

The transaction is structured as a tender offer to be followed as soon
as possible by a merger. The transaction is subject to customary closing
conditions, including the tender of a majority of ADC shares and
regulatory approvals, and is expected to close in the fourth calendar
quarter 2010.

CLICK HERE for the News Item of the acquisition being investigated by Kendall Law Group for breach of "fiduciary duties".

CLICK HERE for Tyco Electronics.

CLICK HERE for ADC.