Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Thomas & Betts Corporation (“Thomas & Betts” or the “Company”) (NYSE: TNB) (ISIN: US8843151023) concerning the proposed acquisition of Thomas & Betts by ABB in a cash transaction valued at approximately $3.9 billion. The investigation concerns whether the Thomas & Betts directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Thomas & Betts shareholders will receive $72.00 for each share of common stock. However, the price to EBITDA and net income multiples that ABB would be paying TNB shareholders is below that of comparable transactions. Thomas & Betts shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at firstname.lastname@example.org or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rebecca Jarmon at email@example.com or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Thomas & Betts Corporation (NYSE:TNB) hit a new 52-week high Wednesday as it is currently trading at $72.19, above its previous 52-week high of $72.18 with 879,554 shares traded as of 1:05 p.m. ET. Average volume has been 323,900 shares over the past 30 days.
Thomas & Betts Corporation (NYSE:TNB) hit a new 52-week high Tuesday as it is currently trading at $72.12, above its previous 52-week high of $72.06 with 75,521 shares traded as of 9:35 a.m. ET. Average volume has been 323,900 shares over the past 30 days.