Shares of Thomas & Betts Corporation (NYSE: TNB)
are seeing a huge rally in trading today after the Memphis, Tennessee-based
company agreed to be acquired by ABB Ltd. (ADR) (NYSE: ABB). Under the terms of
the agreement, ABB will acquire Thomas & Betts for $72 per share in cash.
Thomas & Betts shares rose to a new 52-week high
of $71.31 in trading today. At last check, the stock was up more than 22% on
above average volume. The rally has pushed Thomas & Betts shares above
their 50-day and 200-day moving averages.
To get more information on Thomas & Betts
Corporation please click here…
