Thomas & Betts to Shed Communications Products Business

Thomas & Betts (www.tnb.com) entered into a definitive agreement to sell its communications products business to Belden (www.belden.com) for cash consideration of $78 million. The business, which is included in the company’s global Electrical segment, genera...

Thomas & Betts (www.tnb.com) entered into a definitive agreement to sell its communications products business to Belden (www.belden.com) for cash consideration of $78 million. The business, which is included in the company’s global Electrical segment, generated approximately $45 million in sales and approximately $0.09 earnings per diluted share for the first nine months of 2010. The transaction is expected to be completed by year-end 2010, subject to regulatory approval.

The communications products offering includes coaxial cable drop connectors, pole line hardware and telecom enclosures sold under the Snap-N-Seal, LRC, Diamond and Kold-N-Klose brand names. The sale also includes two manufacturing facilities, the above-mentioned trade names and associated intellectual property.
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