TE Connectivity in talks to buy Deutsch Group for $2 billion

Reuters News
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Posted: Nov 29, 2011 4:49 PM
TE Connectivity in talks to buy Deutsch Group for $2 billion

(Reuters) - TE Connectivity Ltd said it was in talks to buy Deutsch Group SAS, a maker of electronic connectors for harsh environments, from parent Wendel for about 1.55 billion euros ($2.06 billion).

The deal is expected to add to the company's adjusted earnings by about 20 cents a share in fiscal 2013, excluding acquisition-related costs.

TE Connectivity expects to finance the acquisition through a combination of cash and debt, it said in a statement. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Saumyadeb Chakrabarty)