SCHAFFHAUSEN, Switzerland — Tyco Electronics Ltd. (NYSE: TEL) announced the completion of the acquisition of ADC Telecommunications, Inc. (Nasdaq: ADCT). The combination of Tyco Electronics (TE) and ADC positions the company as a world leader in broadband connectivity.
Tom Lynch, Chief Executive Officer of TE, said, “With our expanded product offering and strong position in every major geographic region, TE will provide the broad range of products and solutions our customers need to keep pace with the rapidly increasing demand for video and data connectivity anytime and anywhere.”
TE announced earlier the successful completion of its tender offer to purchase the outstanding shares of common stock of ADC, which expired on Wednesday, Dec. 8, 2010. TE then consummated the short-form merger, and ADC became an indirect wholly-owned subsidiary of TE.
TE will provide updated guidance on its fiscal first quarter earnings call in January.
Tyco Electronics Ltd.
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