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China clears Tyco Electronics' acquisition of ADC

Posted: 06 Dec 2010 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? offer for shares?

Global provider of engineered electronic components and network solutions, Tyco Electronics Ltd. has just received notice that the Ministry of Commerce of the People's Republic of China, which is responsible for reviewing acquisition transactions under the Antimonopoly Law as well as its implementing regulations, has cleared the company with its proposed acquisition of ADC Telecommunications, Inc.

Tyco Electronics' offer for shares of ADC is scheduled to expire on Wednesday, Dec. 8, 2010 at 5:00 p.m., New York City time. Meanwhile, the company maintains its projection that the transaction shall close in the current quarter.

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