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Home > Finance > TE Connectivity to acquire Richards Manufacturing for about $2.3 billion

Finance

TE Connectivity to acquire Richards Manufacturing for about $2.3 billion

Published by Global Banking and Finance Review

Posted on February 12, 2025

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(Reuters) -TE Connectivity said on Wednesday it would buy utility grid products maker Richards Manufacturing Co from funds managed by Oaktree Capital Management and members of the Bier family for about $2.3 billion in cash.

Shares of the company rose 2% before the bell.

The Galway, Ireland-based company looks to finance the deal through a mixture of cash and debt. It expects the deal to close in its third-quarter ending June.

(Reporting by Abhinav Parmar in Bengaluru; Editing by Savio D'Souza and Sriraj Kalluvila)

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