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ABB to divest Meyer Steel Structures business of Thomas & Betts for $600 mln to Trinity Industries Inc

Thursday, 26 Jun 2014 08:00pm EDT 

ABB Ltd:To divest the Meyer Steel Structures business of Thomas & Betts for $600 million to Trinity Industries Inc.The all-cash transaction is expected to close in Q3, subject to regulatory clearance.Says is divesting the steel structures business of Thomas & Betts due to limited synergies with its core portfolio.Meyer Steel Structures serves North American utilities with engineered steel mono pole structures for power transmission & distribution. 

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0.43 +1.99%
21 Nov 2014