US electrical components manufacturer Thomas & Betts has signed a definitive agreement to acquire Lamson & Sessions in an all-cash transaction valued at $27.00 per share or approximately $450m.
Lamson & Sessions is a well-known, leading North American supplier of non-metallic electrical boxes, fittings, flexible conduit and industrial PVC pipe.
Thomas & Betts has committed debt financing to fund the transaction. Subject to the satisfaction of customary closing conditions and the approval of Lamson & Sessions’ shareholders, the deal is expected to close in late 2007.
For the calendar year 2008, Thomas & Betts’s preliminary assessment is that the
acquisition will contribute approximately $0.5bn to revenues and be accretive to earnings by approximately $0.15 to $0.20 per share.
With headquarters in Memphis, Tennessee, Thomas & Betts has manufacturing, distribution and office facilities worldwide. In 2006, the company reported $1.9bn in revenues.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Radio wave weapon knocks out drone swarms
Probably. A radio-controlled drone cannot be completely shielded to RF, else you´d lose the ability to control it. The fibre optical cable removes...