SMT, PCB Electronics Industry News

SMT, PCB Electronics Industry News

News from TE Connectivity


Tyco Electronics Extends Tender Offer for ADC

Aug 24, 2010

SCHAFFHAUSEN, Switzerland - Tyco Electronics (NYSE: TEL) announced today that it has extended the expiration of its tender offer to purchase all of the outstanding common shares of ADC (Nasdaq: ADCT), at a price of $12.75 per share in cash, to midnight, New York City time on Monday, September 20, 2010. All other terms and conditions of the tender offer remain unchanged.

As of midnight on August 23, 2010, approximately 84,002,564 common shares of ADC (including 9,737,460 common shares of ADC guaranteed to be delivered within the next three NASDAQ trading days) had been tendered and not withdrawn pursuant to the tender offer, representing approximately 86.57 percent of the outstanding common shares of ADC.

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, specialty products and subsea communication systems, with fiscal 2009 sales of US$10.3 billion to customers in more than 150 countries. We design, manufacture and market products for customers in a broad array of industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; energy; and lighting. With approximately 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at http://www.tycoelectronics.com/

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