The deal will double ABB’s addressable market in North America to approximately $24 billion. Bank of America Merrill Lynch acted as financial advisor to ABB and Kirkland & Ellis LLP acted as the main legal advisor. Deutsche Bank Securities Inc. was the financial advisor for Thomas & Betts and Davis Polk & Wardwell LLP was the legal advisor.
Dominic Pileggi will remain as chairman of Thomas & Betts, and Charles Treadway, previously the chief operating officer, is now the CEO in Pileggi’s place. The headquarters remains in Memphis. In addition, Thomas & Betts shares have stopped trading on the New York Stock Exchange.
Read more mergers and acquisitions news