The deal would be worth about $4 billion, according to the report, which was published on
The Wall Street Journal's
Web site. The report cited anonymous sources familiar with the matter.
The sources said the deal could be announced as early as Monday but warned that talks could still fall apart, the report said.
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ABB is a Switzerland-based engineering company that provides power and automation technologies to utility and industrial companies.
Memphis, Tenn.-based Thomas & Betts makes electrical components used by businesses.
ABB's U.S.-listed shares closed Friday's session down 6 cents at $21.24. Thomas & Betts' shares closed the session up 25 cents at $57.95.
This article was written by a staff member of TheStreet.