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Swiss technology and engineering giant ABB has the green light from U.S. authorities to buy an American company for nearly $4 billion.
The purchase of Thomas & Betts would increase ABB’s low voltage product business in North America 10-fold, according to the company.
The offer of $72 a share must still be approved by Thomas & Betts’ shareholders at an annual meeting Wednesday.
European and Canadian authorities also still need to approve the deal.