Swiss firm Cicor agrees to buy UK's TT Electronics in $385 million deal

(Reuters) -Britain's TT Electronics said on Thursday it agreed to the terms of a buyout proposal by Swiss firm Cicor Technologies, which will value the company at about 287 million pounds ($385.18 million).

Under the deal terms, each TT Shareholder will receive 100 pence in cash apiece and 0.0028 new Cicor shares.

($1 = 0.7451 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich)