ABB volatility low into $3.9B acquisition of Thomas & Betts
ABB (ABB) will acquire Thomas & Betts (TNB) for approximately $3.9B. ABB overall option implied volatility of 31 is below its 26-week average of 40 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com
Thomas & Betts volatility low into $3.9B acquisition by ABB
ABB (ABB) will acquire Thomas & Betts (TNB) for $72 per share in cash. Thomas & Betts overall option implied volatility of 30 is below its 26-week average of 39 according to Track Data, suggesting decreasing price movement. :theflyonthewall.com
ABB (ABB) and Thomas & Betts (TNB) announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9B. The acquisition price represents a 24% premium to Thomas & Betts’ closing stock price on Jan. 27 and a 35% premium to the volume weighted average stock price over the past 60 trading days. The transaction is subject to approval by Thomas & Betts shareholders as well as to customary regulatory approvals, and is expected to close by the middle of 2012. :theflyonthewall.com